M&G

Tom Dobell, manager of the £7.7bn M&G Recovery fund, expects an uptick in M&A activity to rejuvenate performance in 2013 after a "tough" three years for the fund.

Former M&G manager Mike Godfrey has joined institutional investment boutique Marathon after leaving the asset manager last week.

High yield bond investors will face challenges in 2013 as companies take advantage of market conditions to issue lower-yielding debt.

Our top ten best read stories this week included warnings about outsourcing and the power of distributors post-RDR, as well as a more light-hearted look at Crispin Odey's very happy chickens. What did you miss?

Michael Godfrey, co-manager of the M&G Global Emerging Markets and M&G Asian funds, has left to pursue other opportunities after eight years at the group.

IS STERLING OVERVALUED?

Jim Leaviss, M&G's head of retail fixed interest, has been adding to inflation-linked bonds following a "change in attitude" among central bankers.

M&G's co-head of fixed income Jim Leaviss has warned the UK could face losing its AAA rating on 5 December, the day of the Autumn Statement, as the growing budget deficit could force George Osborne to abandon plans for fiscal consolidation.

WOOLNOUGH

Fund managers including Richard Pease, Harry Nimmo, Richard Buxton and rising star Philip Rodrigs were awarded the top Honours at the fifth Morningstar OBSR Awards last night.