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Polar Capital is set to launch a Global Financials Investment trust for managers John Yakas and Nick Brind, in a move to exploit lowly valuations of banks across the world, Investment Week understands.

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First State Investments has formally announced the soft-closure of Jonathan Asante's £4bn GEM Leaders fund.

George Soros has reportedly made £40m in a day through a short position on the Australian dollar.

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