m&a

The managers of Polar Capital's UK Absolute Return fund have used the turbulence of the past fortnight to increase net market exposure to its highest level this year, adding to positions in favoured banks and miners.

Legal & General Investments' Robert Churchlow has added two new positions to the £232.3m Growth trust ahead of expected merger and acquisition activity.

Gartmore UK Alpha fund manager Leigh Himsworth has increased his weighting to small and mid caps on expectations of increased M&A activity.

Fidelity Asian Values has introduced gearing for the first time since September. The £120m trust has drawn down $9m of a $15m loan facility it arranged ING Bank in February.

Activist investing usually produces the best results during the early-to-mid stages of an economic recovery, making the current economic environment probably the best seen for this type of investor since the early 1990s.