Legg Mason

Managers and fund buyers have begun rotating out of UK mid- and small-cap stocks in anticipation of a mega-cap resurgence.

Legg Mason's Bill Miller is struggling to find the ‘extraordinary' value in the US he did last year, and said equity markets could rise even higher in 2014.

A widely-predicted spate of fund mergers and consolidations has failed to materialise this year, with the number of funds being merged or closed dropping substantially.

Legg Mason Global Asset Management has launched a Dublin-domiciled senior loans fund through its largest subsidiary Western Asset Management.

Rathbones Unit Trust Management has selected five US equity funds that can add value at a time when many managers are struggling to outperform the S&P 500 index.

TECHNOLOGY

The return of Japan's Prime Minister Shinzo Abe has boosted the country's stock market and lifted inflation, but which managers have benefited most so far, and which have lagged behind?

Fund buyers have been rotating their equity exposure from growth to value plays, to take advantage of improving global economic conditions.

Fixed income managers have taken advantage of pricing opportunities in the high yield space to move back into the asset class, after outflows hit record levels in June following the Federal Reserve's tapering talk.

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