Neptune

Neptune is to merge away its UK Equity fund, run by Scott MacLennan, later this year following the departure of highly rated manager Alex Breese.

Emma Mogford, manager of the £2.2m Neptune UK Higher Income Fund, has left the company.

European fund managers have rotated out of blue-chip defensives in favour of more economically sensitive cyclical stocks as they call the end of the sovereign debt crisis.

Consumer sector growth in China could bolster the economy and make the country a better long-term investment than it may currently appear, according to fund managers.

Sanlam Private Investments (SPI) has reaffirmed its ‘sell' recommendation on Richard Wilmot's £2.1bn Newton Higher Income fund, arguing its recent overhaul has made the fund a less attractive option for income seekers.

A number of big name fund managers have been flagged by Bestinvest's latest infamous list of "dog funds", which names and shames the worst performing funds available to UK investors.

Neptune's Felix Wintle has been rotating his portfolio into domestically-focused US equities as he predicts names linked to the consumer will power the economic recovery.

William Rice, manager of the £1.7m Neptune Russia Special Situations fund, has left the company.

Scott MacLennan, manager of the Neptune UK Special Situations Fund, has upped his banking exposure and said it is increasingly difficult to ignore the investment case for the sector at home and abroad.

ON NORTH AMERICA