Neptune's Rob Burnett has been adding to peripheral European banks in anticipation of a share price bounce after this year's round of stress tests are completed.
Ian Ormiston has added to European construction stocks in his Ignis European Smaller Companies fund in the expectation this area of the market is in line to benefit from a economic recovery.
AXA Investment Managers took in €12bn (£10.2bn) in net flows last year, well up on the €3bn taken in 2012, thanks to Framlington and its fixed income teams.