Asia

City Financial has unveiled a Japan fund for manager Peter Nicholas and re-shuffled its Asian equities desk as it continues to expand.

Japanese shares soared overnight, with the Nikkei index seeing its biggest one-day gain for three months, as Asian shares rebounded after last week's slide.

Henderson Global Investors has hired Aberdeen Asset Management's Andrew Gillan to head its Asian equities team, following the announcement he had resigned from his previous role.

Angus Tulloch and Martin Lau, managers of the Scottish Oriental Smaller Companies trust, have bagged a performance fee of £1.7m over the year to the end of August.

Asian stocks rose overnight, driven higher by the Nikkei which reversed sharp losses on Friday after climbing over 2%.

City Financial is preparing to launch an Asian macro fund for portfolio manager Geoffrey Barker.

US markets had their best day of the year so far yesterday, with all three major indices rising by more than 2%, after politicians took a step towards agreeing a deal on the country's debt ceiling.

Fidelity's Teera Chanpongsang is to hand over the group's onshore Emerging Asia fund on 1 November as he prepares to take over the £2.1bn South East Asia OEIC.

Martin Currie has appointed Michael Millar as an investment manager on its Asian equities team.

The majority of Asian markets have risen this morning despite no progress over talks aimed at ending the US government shutdown.