Equities

Graham Ashby has re-introduced Imperial Tobacco as one of the largest holdings in his £89.1m LV= UK Equity Income fund just three months after selling out of the stock.

Legal & General Investments' Robert Churchlow has added two new positions to the £232.3m Growth trust ahead of expected merger and acquisition activity.

HSBC Asset Management is planning to change the investment approach on its GIF European Equity fund after turning around performance on European Growth using the same method.

THE ALCHEMIST

Felix Wintle has made some strong sector shifts in his Neptune US Opportunities fund over the past two weeks, after admitting he has been too bearish on the American economy.

ON THE US

COLLINGS' CORNER

Martin Currie has poached Swip's head of global emerging market equities Kim Catechis and investment director Alistair Reynolds.

Goldman chief Lloyd Blankfein attacked the SEC's fraud charges in telephone calls to clients yesterday as the banking giant continues to try and stem the damage to its reputation.

Anthony Bolton has taken out a £65m gearing facility on his Fidelity China Special Situations trust as the manager wastes no time in accessing the region's equity markets.