Europe

Merkel must curb German complacency

100 years on and Europe is still struggling for peace

Former Ignis manager Ian Ormiston has joined Old Mutual Global Investors to develop and run a new European Smaller Companies fund.

GLG has made Rory Powe manager of its Continental Europe fund, following his move to the group in July.

Marlborough's European manager David Walton highlights the niche German companies which can buck the growth slowdown in Europe - as well as the mid-caps that could speed ahead.

Liontrust Asset Management has hired James Beddall from F&C Investments as co-head of international sales.

Polar Capital has hired Nick Davis from Threadneedle to launch a new European equity income franchise later this year.

Michael Clements and Claire Manson are to take over management of the Oyster range of European equity funds after being hired by Swiss group Syz & Co.

Taking 2013 as a whole, emerging markets fell by 4.4% at a time when the MSCI Frontier Markets index rose by an impressive 23.6% (in sterling, net total return).

Fund management groups are tightening rules around investing in Russia, in some cases discouraging portfolio managers from adding to positions.