Managers believe sensible business plans will support housebuilders and offer greater scope to grow profits than government's stimulus package.
OMAM's Stewart Cowley has said the global bond market is in the last throes of a rally, even as the Federal Reserve looks to cut yields via Operation Twist.
Peter Baxter, chief executive of Old Mutual Asset Managers UK, has exited the firm to pursue other opportunitues.
Old Mutual Asset Managers is to launch a long/short UK equity fund for Simon Murphy.
The last few weeks have seen unprecedented market volatility as investors take fright at the ongoing debt crisis in the eurozone and a series of weak economic data from the US.
Old Mutual's Stewart Cowley and LGIM's Richard Hodges have reversed their short duration stances and removed their treasury short positions as the flight to safety pushes yields to record lows.
Dan Nickols, Old Mutual Asset Managers' (OMAM) top performing small cap manager, has backed share prices to soar in the second half of the year by 10% or more.