Kames Capital

Kames Capital's Stephen Adams, head of UK equities and manager of the group's £398m UK Equity fund, has bought a 2% stake in retailer Tesco in anticipation of a re-rating over the coming months.

Kames Capital is launching a Global Equity Income fund for Piers Hillier and Mark Peden, while the group has also announced details of its new RDR share classes.

Global markets rallied at the end of last week as the Federal Reserve unleashed QE3, prompting some investors to call the start of the next major bull market in equities.

Marcus Chandler has joined Kames Capital to work with his former LV= Asset Management colleagues Piers Hillier.

Kames Capital's Phil Milburn has predicted the European Central Bank will once again fall short of producing a "panacea" for the eurozone debt crisis later today but said the steps expected to be taken are more positive.

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WEALTH MANAGERS

Strategic bond managers have been reducing high yield exposure in anticipation of a default rate spike in the second half of the year.

FIXED INCOME

Fixed income managers using credit default swaps as hedges are exposing themselves to 'very dangerous positions' due to price dislocation between the derivatives and the underlying market, said Kames Capital's Stephen Snowden.