China

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.

The luxury goods sector will not suffer as a result of a global environment of austerity, says the manager of the Swiss & Global's Luxury Brands fund.

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

Last week China's central bank announced it would introduce flexibility in the exchange rate of the renminbi, removing its peg to the dollar and allowing the currency to appreciate.

Ecclesiastical's Robin Hepworth has been adding Japan exposure to Amity International on the belief stock markets are due to recover from years of underperformance.

Anthony Bolton's Fidelity China Special Situations trust has issued a further 11 million shares, primarily to assist trackers wishing to buy the vehicle following its admission to the FTSE 250.

JAPAN

URBANISATION

US markets opened strongly today as global stock markets thrive on news China is likely to end its currency peg with the dollar.

George Osborne will announce a bank tax on Tuesday aiming to raise £3bn amid criticism the levy could hit UK competitivenesss.