Fidelity

Fidelity's Aruna Karunathilake has bought into Lloyds for the first time in three years to take advantage of the stock's depressed valuation.

Top multi-managers talk to Joanna Faith about the pros and cons of high yield bonds and reveal their favourite funds in the sector.

Fund managers warn Japan could take a short-term hit to GDP following last week's earthquake and tsunami, but they are less concerned about the longer-term impact on the country's fragile economic recovery.

SPECIAL SITS

Fidelity's bond manager Ian Spreadbury is running a chunky underweight to bank debt in the view it is particularly at risk from the threat of a double-dip recession.

Fidelity has plans to cap its newly launched UK Opportunities fund at around £250m to enable manager Alex Wright to continue to manage the portfolio effectively.

J.P. Morgan and Fidelity are planning to gain trust company licences in China, along with many overseas firms seeking to profit from the light regulatory environment in which the vehicles operate.

Anthony Bolton's Fidelity China Special Situations trust has raised its target of £166.25m with its latest C-Share offer.

Fidelity's Sanjeev Shah has reduced his weighting to overseas equities in the £3bn Special Situations fund in favour of domestic large caps.

The Indian equity market has fallen 18% and seen a $1.5bn outflow of foreign investment since the start of the year as inflation fears drive investors back to developed markets.