m&a

CONTRARIAN INVESTOR

UK GROWTH

RBS has completed the sale of its metals, oil and energy business to J.P. Morgan in a deal worth $1.6bn (£1.1bn).

Axa Framlington's Nigel Thomas has boosted mid-cap exposure in his £1.6bn UK Select opportunities fund on expectations of superior growth prospects for the FTSE 250 this year.

UK GROWTH

Retail investors pull money out of UK All Companies but strongest managers in the group continue to deliver

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.