Italy

Invesco Perpetual's Paul Causer and Paul Read have allocated nearly a quarter of their £398m Tactical Bond fund to Spanish and Italian bonds in the view the countries are "too big to fail".

Those looking to maximise returns in the first half of the year should have parked their money in Eastern European equity markets such as Hungary and the Czech Republic, according to data from S&P's.

PIIGS STILL A CONCERN FOR EURO CREDIT

Invesco Perpetual star managers Paul Causer and Paul Read recently bought into Spanish and Italian bonds after seeing yields escalate during the European sovereign debt crisis.

RWC Partners has made significant changes to its Global Convertibles fund since the departure of former managers Miles Geldard and Lee Manzi.

Fund managers are buying into southern Europe as macro-economic instability creates opportunities, amid fears Greek contagion could push economies in the region into recession.

This week's panel discusses European equities and the impact of the Greek tragedy

Thames River manager plans to hedge against a 10% drop in trending markets

Augustus Asset Managers' funds are to invest more heavily in convertible bonds as it feels the equity risk premium is now higher than the premium it can earn on vanilla bonds.

Since when has hyperbole become a staple of investment analysis?