Fidelity

Leading fund managers are moving to snap up ‘cheap' UK banks after a dismal year which saw them drop in value as markets raced higher.

Andy Weir, the manager of Fidelity's Global Inflation Linked Bond fund, has said he expects inflation to peak below 5% later this year, after the official reading for May showed price rises had halted.

Peter Hicks, product director of UK equities at Fidelity, is leaving the company.

Anthony Bolton, Fidelity's legendary investor, has seen the share price of his China Special Situations investment trust drop by a fifth in the last six months amid sharp falls in the region.

REVEALED: OBSR's TOP SPECIAL SITS FUNDS

Multi-managers at OPM Fund Management are targeting funds in emerging markets and energy sectors in the recently-launched Worldwide Opportunities fund.

Leading fund groups suggest a focus on risk assets in Managed sectors after IMA review causes furore.

Alex Wright is manager of the £7m Fidelity UK Opportunities fund. The top-performing fund has returned 83.5% to investors over the last three years, ahead of the UK Smaller Companies sector average of 25.4%.

Shareholders in Fidelity's Growth & Income fund have voted in favour of its merger into the MoneyBuilder Growth fund.

Fund houses argue IMA decision to restructure Managed sectors fails investors