Legg Mason Capital Management's US fund manager Mary Chris Gay has exited the firm, Investment Week can reveal.
Berkshire Hathaway (BRK), the insurer headed by billionaire Warren Buffett, has been downgraded by Standard & Poor's from AA+ to AA.
Hugh Hendry has backed Japanese equities to continue their stellar start to 2013, but is also boosting exposure to sovereign bonds on concerns Japan's recovery will have harmful effects elsewhere.
Dalton SP's Nabeel Mughal has cut consumer discretionary stocks and piled the cash into industrials on fears over the strength of US consumer spending.
Legg Mason is introducing a sterling-hedged share class on its offshore Legg Mason Royce US Small Cap Opportunity Fund in response to client demand in the UK.
US fund house Polen Capital Management is making a move into the UK market with the launch of the Polen Focus US Growth fund.
Miton Group - Gervais Williams' fund management company - has announced plans to launch a range of UK equity funds after a positive year for the group which saw assets climb towards £2bn.