Cazenove

M&G became the UK's largest asset manager by AUM in the first quarter of the year, knocking rival Invesco Perpetual off the top spot, according to the latest Pridham report, published by Fundscape.

WORLD LEADERS

A growing focus on short-term fund performance combined with shorter market cycles is prompting professional investors to protect themselves by raising cash positions.

Investors ask whether falling Chinese housing starts could trigger end of commodity super-cycle.

FINANCIAL CRISIS

Chris Rice, manager of the £823m Cazenove European fund, is adding risk to his portfolios due to bombed out valuations and the European Central Bank's implementation of "one of the biggest bailouts in history".

Cazenove Capital has confirmed it is launching its European Income fund, run by star manager Chris Rice, in May this year.

Investment trust analysts have warned arbitrage activity will be rife in 2012 and could lead to a number of wind-ups in the sector this year.

PERFORMANCE

The Financial Services Authority (FSA) has fined a former compliance officer at David Einhorn's Greenlight Capital and a trader at JP Morgan Cazenove for insider trading and market abuse.