M&G

Banks forced to scale back role

Yellen faces tough decision

Manager sticks with stock

New range to complement existing active products

Manager to focus on Global Basics fund

Investment Week asks managers for their view on 'Black Monday' and how they are protecting their portfolio amid ongoing market volatility

M&G has seen £3.4bn retail net outflows in the first six months of the year and has warned profits are expected to be "dampened" for the rest of the year as investors continue to shun fixed income funds.

Tilney Bestinvest's 'Dog List' of consistent underperformers has fallen by over a third since January, from 60 funds to 37.

M&G Recovery fund manager Tom Dobell has said improved stock selection is helping his £4.5bn portfolio regain its poise this year following a period of significant underperformance.

UK equity managers are the biggest winners in the latest bi-annual rebalancing of FE Trustnet's Crown Ratings, with 51 funds gaining the top accolade of five crowns.