Equities

SMART MONEY

M&G's Steven Andrew has moved to invest in Chinese equities in his Episode Income fund after labelling the region the cheapest equity market.

GLG's technology fund managers Philip Pearson and Anthony Burton have been adding substantially to their position in US giant Apple after a brutal sell-off recently saw it shed over 20% of its value.

TURKEY

Five years on and the financial crisis shows no sign of ending. But many investors, understandably fearing the prospect of further shocks, are looking in all the wrong places, says Tim Price, investment director at PFP Wealth Management.

If the US was to go off the fiscal cliff at the end of the year it would lead to a recession in the world's largest economy, the country's Congressional Budget Office (CBO) has warned.

An alleged rogue trade in US technology giant Apple's shares has left a US brokerage fighting for survival.

Baring Asset Management's chief investment officer said equity markets are facing the "mother of all rallies" before inflation, brought on by QE, brings the markets crashing down in five years' time.

Fund managers have raised cash levels in their equity and bond portfolios to levels last seen at the height of the Lehmans crisis as valuations in risk assets hit extremes.

The devastation caused by Hurricane Sandy over the past few days could cost the US economy as much as $20bn, according to the latest estimates.