M&G

ON BONDS

M&G bond fund manager Mike Riddell has warned the crisis in Europe has taken a turn for the worse after bond yields in core European countries rocketed yesterday.

M&G stars including Richard Woolnough and Jim Leaviss helped the group rake in over £1bn of new money in the third quarter, keeping it in top spot in the retail sales charts.

M&G global head of retail sales says industry is awash with mediocrity, which must be eradicated.

Investors could be faced with a plethora of fund charging models post-RDR as well as higher overall costs and ‘premium' prices for a top tier of better performing funds or specialist mandates.

Defaqto research has revealed a list of the top funds across the IMA sectors for income, which includes offerings from major players as well as from smaller groups.

M&G's Richard Woolnough said he is uneasy at the way US banks have been able to book significant profits relating to the value of their debt in Q3 earnings figures.

Investors have come under increased pressure to inflation-proof their portfolios as a fresh spike in CPI and RPI raised doubts levels will drop back to the Bank of England's 2% target in 2012.

Managers fear France could be the next European nation in line for a downgrade as it steps in to support beleaguered bank Dexia.

ON BONDS