Economics

2011 has been a year when some of the most popular emerging market managers paid the price for the breakneck growth of recent years, with investors fleeing to safe havens as equities tanked amid the eurozone debt crisis.

Head of the International Monetary Fund (IMF) Christine Lagarde has warned the world economic outlook is "gloomy" and no country is safe from rising risks.

CRYSTAL BALL GAZING

The head of the Bank of France has attacked the UK's AAA-rating and called for it to be downgraded - as expectations increase of a downgrade to France's rating.

THEY SAID WHAT?

Renowned commodity investor Tim Guinness has taken a stake in North Investment Partners.

EU TREATY VETO

Nigel Legge's new firm Vinculum is intending to launch a second fund investing in US equities next year.

Asian shares fell into bear market territory for the year overnight, while commodities and the euro suffered heavy falls on renewed eurozone fears.

Chinese and Indian policymakers have promised to take action to boost economic growth on deepening fears emerging economies will suffer a hard landing.