UK

M&G's Tom Dobell has boosted BP to the largest position in his £5.35bn Recovery fund, believing its recent decline represents a rare opportunity to invest in one of the UK's leading companies.

F&C shares are higher again this morning after ‘turnaround specialists' Sherborne Investors doubled its stake in the asset manager to 10%.

Henderson has recorded a £1bn net inflow into higher margin assets over the first six months of the year, including a net £100m into its UK retail fund range.

F&C shares have soared almost 23% this morning after Sherborne Investors, a group which specialises in turning around recovery situations, took a 5% stake in the firm.

Gartmore has suffered almost £2bn of net outflows so far in 2010 as the firm continues to struggle following suspension and subsequent resignation of star manager Guillaume Rambourg.

Liontrust has suffered another quarter of net outflows after retail investors continued to exit the manager's fund range.

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