Global

First State Investments has launched a Global Credit Income fund for the UK market, targeting wealth managers and discretionary investors.

F&C has announced several changes to its £2.6bn Foreign & Colonial investment trust, including the creation of two new sub-portfolios.

Terry Smith, manager of the Fundsmith Equity fund, has shared his surprise at the outperformance of the portfolio in 2012, saying he did not expect the fund to do so well in markets that have been flooded with liquidity by central banks.

Neil Veitch, manager of the SVM World Equity fund, has benefited from increasing exposure to financials in the last six months, as the loosening of Basel III requirements for banks has boosted the sector.

THE BIQ QUESTION

Technology giant Apple saw shares dive 10% in after-hours trading, wiping $50bn off the market cap value, as its latest update to the market left analysts underwhelmed.

ASSET ALLOCATION

Fidelity's head of research for European equities, Henk-Jan Rikkerink, has outlined eight core themes revealed in a recent survey of the group's investment professionals.

James Sullivan, co-manager of the Miton Special Situations and Strategic portfolios, warns investors not to get too carried away by the New Year optimism.

THE BIQ QUESTION