Cazenove

Wealth managers continue to hold UK small-cap funds instead of taking profits and rotating into the larger end of the market, predicting a rise in M&A activity will boost the sector.

COMMENT

F&C has hired Sarasin's Robert Thorpe as head of consumer.

For the fund management industry, 2013 has sometimes seemed like a case of another week, another acquisition.

Former Cazenove European fund manager Chris Rice is to launch a boutique fund management firm with ex-colleague Tim Russell, Investment Week can reveal.

Schroders has moved to hard close Paul Marriage's popular long/short Cazenove Absolute UK Dynamic fund in order to preserve performance.

European equity funds focusing on value stocks have posted almost double the returns of their growth-oriented rivals this year, as cyclical companies and the European periphery outperform quality growth plays.

Richard Buxton's decision to leave Schroders for Old Mutual Global Investors (OMGI) in March has helped boost a number of UK equity funds as investors switched holdings.

SUPER CLEAN

Cazenove's Marcus Brookes and Robin McDonald have bought back into commodities for the first time since the financial crisis, snapping up funds which have sold off sharply on the back of tumbling commodity prices.