An oil and gas overweight has been the biggest driver of outperformance for the £99m J.P. Morgan Smaller Companies investment trust over the past year.
Large caps are offering once-in-a-decade opportunity on a valuation-and-yield basis, according to Mark Barnett, manager of the Invesco Perpetual Strategic Income fund.
Man Group has completed its purchase of GLG Partners, creating a diversified fund group running $63bn of assets.