Investment

US market valuations are not near bubble territory despite being at record highs, with the current rally different to the pre-crisis period because of resurgent US growth, veteran US equity manager Ed Cowart has said.

Former Apollo partner Tom McGrath has joined Caplain Capital to take the role of chief investment officer.

Invesco Perpetual is taking steps to work more closely with discretionary firms and wealth managers after restructuring its sales team.

Chelverton Asset Management is to launch a small-cap fund in September after expanding its team of fund managers.

Business Secretary Vince Cable has bowed to mounting pressure for an inquiry into the privatisation of the Royal Mail, ahead of a critical report due on Friday.

ING Investment Management will look to boost its presence in the UK funds market following an IPO and a rebrand, the firm has said.

The US Federal Reserve has said it will end its purchases of government bonds in October, bringing to a close the quantitative easing experiment.

Johan Utterman, manager of the Lombard Odier Golden Age fund, outlines the problem of aging populations and highlights a number of stocks investors can buy to access the theme.

Miserly performance is on the cards for giant bond funds - but Tesco bonds and index-linked gilts stand out, says Charles Stanley investment manager Kris Barclay.

Positive economic news in the US and the continuing recovery in the UK have pushed equity valuations near to peak levels. So where can investors turn for protection in case markets fall from here?