Fidelity Worldwide Investment's group chief investment officer has warned the European Financial Stability Facility (EFSF) is next in line to be downgraded by ratings agencies.
Fidelity's Sanjeev Shah has reduced his holding in part-nationalised lender Royal Bank of Scotland (RBS) following a tough year for financials in 2011.
Fund launches reached a decade low last year as groups held back new products in the face of market volatility.
Anthony Bolton has lost £1m of his own money in the £570m Fidelity China Special Situations trust in the last 12 months, according to research from broker Collins Stewart.
Fidelity has reduced the annual management charges on its multi-asset range, aligning the fees to 1.25%.
The board of Anthony Bolton's Fidelity China Special Situations fund has bought back a further 750,000 shares in a bid to narrow its discount.
Fidelity's Anthony Bolton is expecting a slowdown in inflation to boost equity markets in China next year, following a sell-off which has hurt performance in 2011.
Threadneedle's head of global equities Jeremy Podger has left the company to join Fidelity and run its £1.5bn Global Special Situations fund.