Equities

Royce & Associates co-CIO Whitney George believes markets are entering a ‘supercycle' in M&A activity, as the subdued economic environment forces companies to attempt to acquire growth.

Whitney George, who oversees $30bn at US small-cap specialist Royce, has taken a position in Jupiter on the view asset managers will thrive as the developed world looks to increase savings.

LV= Asset Management is launching a hedged share class for its European ex-UK Growth fund, to minimise currency risk for investors.

Bob Doll, chief equity strategist at BlackRock, says stocks are being pulled in two directions and are likely to keep to a narrow trading range until economic data improves.

The FTSE 100 moved slightly lower in afternoon trading as double-dip fears persisted on the back of negative housing market data.

Carlos de Leon has joined Allianz RCM as a portfolio manager ahead of the launch of its Brazil fund in October.

Former Neptune India and Asia Pacific Opportunities manager Shelley Kuhn has returned to the boutique to run a new African equity fund.

Warren Buffett's Berkshire Hathaway has emerged as a possible bidder for the Royal Bank of Scotland's Direct Line insurance business.

The yen is higher against major currencies today despite the Japanese Government unveiling a ¥920bn stimulus package and the BoJ extending an additional ¥10trn of lending to banks.

French insurance giant Axa, which was the largest shareholder in Goldman Sachs, has almost halved its stake in the investment bank.