Equities

Paulson fund loses $500m on Sino stake Veteran hedge fund investor John Paulson has lost $500m through selling his entire holding in Sino Forest, a Chinese forestry company fighting fraud allegations, the FT reports.

Newton's Paul Brain said the possibility of Greece defaulting on its debt has tripled since a bailout was first agreed, resulting in a higher risk the country could leave the euro by the end of this year.

Fidelity has launched an onshore OEIC version of its $700m Emerging Asia fund, run by Teera Chanpongsang, after three years of outperformance from the offering.

Investec Asset Management has expanded its range of emerging market debt funds with the launch of an investment grade debt fund for Peter Eerdmans.

The International Monetary Fund has cut its forecast for US growth after unexpected economic weakness and European woes.

GLOBAL EMERGING MARKETS

Announcing a haircut on Greek bond holdings would help restore a positive mood to bond markets, which have largely priced in such a move, said DWS Investments' CIO Asoka Wöhrmann.

Jim O'Neill, the chairman of Goldman Sachs Asset Management, is eyeing China and Russia as the most attractive BRIC countries while shunning "expensive" India.

It has been fashionable for many months to claim China and the emerging market countries have outgrown their strength.

Polar Capital's £357m Technology Trust's net asset value jumped 17% over the past year, prompting the trust to rake in its first performance fee for ten years.