Europe

Deflationary fears drove a strong performance from the ‘gilt proxies' in 2014, but there are hopes the ECB's QE programme will help the equity markets this year.

Fund managers have backed Italian banks to continue driving European equities higher this year, aided by a more supportive macro backdrop and beneficial domestic reforms.

Top five recovery plays

Five growth gems

Positions in European consumer staples have outperformed in run up to the European Central Bank's quantitative easing programme, as investors look to mimic the highs of US and UK equity markets, according to Polar Capital's Nick Davis.

Vanguard's Australia director John James is to take over its UK and European operations to replace Thomas Rampulla, who will return to the group's US office.

Kames Capital has cut the annual management charge on Stephen Snowden's (pictured) Investment Grade Global Bond Fund in an effort to align its with European peers.

Schroders has proposed to change its Schroder UK Absolute Target fund to a pan-European vehicle, as well as introducing a hurdle rate for the fund's performance fee.

Rob Burnett's decision to retain a contrarian position to peripheral banks in his Neptune European Opportunities fund has dragged on performance in recent years.

If aliens knocked on my front door, having read pre-Millennium economic theory books, they would be scratching their frontal lobes with dismay.