New Zealand

Exposure to New Zealand caused the £4.4bn Newton Asian Income fund to significantly underperform its peers in November, as unexpected political risks rocked the local market.

Top UK equity income managers have been cutting their weighting in tobacco stocks as concerns over earnings momentum and new rules on plain packaging put pressure on share prices.

The euro has fallen below the $1.30 barrier against the dollar, as Sunday's European election hangover continues to unsettle investors.

Global Bond managers nominated in last year's Fund Manager of the Year Awards continue to outperform despite tough sector conditions