Analysis

Shell and HSBC are favourite ideas in £2.7bn Investec fund as gains lag wider market.

A number of smaller investment trusts have been forced to cancel expansion plans as larger vehicles continue to dominate the market.

Charles Hepworth, investment director in charge of the DFM proposition at GAM, is selling his stake in Standard Life Investments' Global Absolute Return Strategies (GARS) fund on size concerns.

Tim Guinness, chairman and CIO of Guinness Asset Management, said natural gas is an excellent buying opportunity after a dramatic fall in value caused by the US' recent move into shale gas.

ON EUROPE

ON BONDS

ON EMS

David Roberts has hiked exposure to emerging market debt in the £663m Kames Strategic Bond fund on the back of improving valuations.

Price falls create attractive entry point into lesser-known bonds.

A fresh long-term refinancing operation (LTRO) launched by the European Central Bank (ECB) will not have as significant an impact as those seen in 2012, according to AXA Sterling Strategic Bond manager Nick Hayes.