UK

Alliance Trust's Rod Davidson has launched his new Monthly Income Bond fund with the credit allocation in defensive names.

Aegon's Audrey Ryan has positioned her £221m Ethical Equity fund to benefit from an anticipated increase in capital expenditure among UK businesses.

Slater Investments has rebranded and changed the mandate of its UK Growth fund ahead of a push into the retail funds market.

European sovereign debt does not compensate investors adequately for the risk they are taking, says Axa Investment Managers' chief investment officer Chris Iggo.

Property fund manager Clavis Walden has delayed launching a planned UK commercial property fund, pointing to investor uncertainty in the face of macroeconomic instability.

The managers of Polar Capital's UK Absolute Return fund have used the turbulence of the past fortnight to increase net market exposure to its highest level this year, adding to positions in favoured banks and miners.

PSigma's Neil Cumming has increased exposure to defensive integrated oil companies in his UK Growth fund on the belief investors currently have a ‘too rosy' view of the future.

Unemployment in the UK rose by 210,000 to 2.47m in the three months to July, which is the highest level since May 1995, according to the ONS.

The UK Manufacturing Purchasing Managers' Index (PMI) reached 50.8 in July, the first time it has registered a level above the neutral mark of 50 since March 2008.

Barclays Wealth is to reissue the US and UK versions of its Super Tracker investment strategy.