Global

Leading fund managers have staked their reputations, and their clients' money, on a sustained UK economic recovery by adding to equities and cutting their bond holdings in the past month.

OBSR has announced the shortlists for the Outstanding Fund Manager and Rising Talent awards, two of the four awards to be announced at the OBSR Honours Dinner on 9 September 2010.

Blue chip stocks fell this morning on fears that data will show US economic growth slowed in the second quarter.

Invesco Perpetual has completed an 18-month review into the way it manages global equities, leading to a change of investment process for its flagship £1.1bn Global Equity fund.

The FTSE advanced in early trading following positive overnight signs in the US and a mini rally in Asia.

America's largest stock markets reported very light trading volumes on Monday as a flurry of M&A did little to reassure investors of the strength of the global recovery.

Investec Asset Management, which runs more than $5.3bn in active currency funds, is retaining its short position on the Australian dollar as the country faces its first hung parliament since the Second World War.

HSBC is in discussions with Old Mutual over acquiring a 70% stake in South African bank Nedbank.

HSBC has launched its Global Inflation Linked Bond fund with overweights to the US and Japan, but an underweight to the UK.

Jupiter star manager Philip Gibbs will need to generate a higher return to obtain a performance fee this year after being forced to change the benchmark on his International Financials fund.