US markets have opened higher after a calmer atmosphere saw the FTSE 100 recover the day's losses.
The FTSE 100 has entered bear market territory, having now fallen 20% from recent highs after the index lost as much as 5% in early trading on Tuesday.
Fidelity's Anthony Bolton has said this week's tumultuous equity markets should be seen by investors as a "time of opportunity".
The FTSE dropped more than 3% in early trading on Friday, following US and Asian markets sharply lower as the global sell-off continues.
US markets have reversed earlier gains after manufacturing data raised further doubts about the strength of the economic recovery.
GAM has launched the GAM Star Global Quality fund, a product focusing on developed market equities.
Greek prime minister George Papandreou yesterday survived a vote of confidence in his government, sending Asian markets soaring overnight.
UK shares were under pressure in early trading after sharp falls in the US caused by a sharp rise in inflation.