Equities

Alan Greenspan, the former chairman of the Federal Reserve, believes the US economy still faces the threat of the dreaded double dip recession.

Europe is likely to experience lower growth due to "fiscal austerity". However, as a result of the awkward outlook, European equities look inexpensive.

Peer group sees £8.5m outflow in May as three-year numbers disappoint, but average fund up 20.7% over one year

EMERGING MARKETS

Invesco Perpetual's Paul Causer is predicting risk assets will rally until at least the fourth quarter following the "marked turnaround" in sentiment in European markets early last week.

J.P. Morgan has raised £104m for its new Global Emerging Markets investment trust.

Russia plans to raise up to $30bn through asset sales over the next three years in the biggest privatisation programme since the frenzied disposals under former leader Boris Yeltzin.

The Witan investment trust has handed a £120m pan-European mandate to Marathon Asset Management.

Robert Shiller, architect of the famous Shiller P/E ratio and co-developer of the Standard and Poor's S&P/Case-Shiller home price index, says there is a 50% likelihood of a US double dip.

Edward Novis has joined JO Hambro Investment Management (Johim) as co-manager on the Waverton European fund.