Europe

ASSET ALLOCATION

EUROPE

SPECIALIST MARKETS

Gartmore has launched a hedge fund for John Bennett on its European equities team.

FUND MANAGER FOCUS

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.

SVM's managing director Colin McLean has boosted his funds' exposure to gold companies by about 2% this month, trimming European financials and basic resource stocks to finance the switch.

The manager of the Newton Asian Income fund has added to its holdings in Taiwan based on the strength of company balance sheets, and expectations of strong earnings growth.

Gartmore head of multi-management Tony Lanning has added the BlackRock European Dynamic fund to his portfolios, reducing his long-term underweight in the region.

The European corporate credit market is returning to pre-crisis levels, despite the concern surrounding sovereign debt markets in the region, according to Steven Blakey, the CEO at London-based European Credit Management (ECM).