US markets opened lower today while the FTSE 100 continued its slide as economic data from China and concerns over Spain's finances dampened sentiment.
The managers of the £98m Melchior North American Opportunities fund have reversed out of defensive names into more economically sensitive sectors, following the string of positive economic data that has emerged from the US in recent months.
Fund managers are snapping up cheap portfolio insurance ahead of an expected market pull-back, after the VIX index hit pre-recession lows in March.
JO Hambro Capital Management (JOHCM) is to launch a Global Opportunities fund for Ben Leyland, manager on the top-performing UK Opportunities fund, by the end of Q2.
Euro finance ministers are considering increasing the size of the eurozone's rescue funds which were set up to bail out indebted nations.