China

China has set the renminbi-dollar exchange rate at its highest level in five years, after announcing it would make its currency more flexible.

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SVM Asset Management has invested about half its fund of funds assets in investment trusts that have remained at excessively wide discounts to NAV since the credit crisis.

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Baillie Gifford's Patrick Edwardson has been increasing equity exposure in the £370m Scottish American Investment trust during the recent market volatility.

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