Jupiter

Jupiter's Merlin multi-managers have added Phil Milburn (pictured) and Melanie Mitchell's Kames High Yield Bond fund to their £3.5bn Income and £1.3bn Balanced portfolios.

Jupiter saw its funds under management climb 6% in the first quarter of the year, according to an interim management statement released today.

Ben Gutteridge, director, fund research at Brewin Dolphin, urges investors to stick with long/short strategies despite their recent run of disappointing performance.

ON RUSSIA

The results of last December's stress tests have prompted Threadneedle's Cormac Weldon to move to an overweight in financials as he calls the end of the banking crisis.

A growing focus on short-term fund performance combined with shorter market cycles is prompting professional investors to protect themselves by raising cash positions.

FIXED INCOME

Philip Gibbs, manager of Jupiter's £710m Jupiter Absolute Return fund, has been "massively increasing" his position in Barclays debt in the belief that high yielding bonds represent a major opportunity.

UK

Leading investors cast doubt on much-vaunted re-rating of lacklustre gold mining shares.