News

UK markets were firmer today, reaching new highs for 2012 as investors went to risk-on mode, despite the threat of a stand-off between Greece and its bondholders.

Phil Cliff, former manager of the £1bn Threadneedle European fund, has joined M&G to manage its Pan European Dividend fund.

MAM Funds has seen its share price soar in early trading after the group revealed assets under management held up firmly in 2011.

Credit rating agency Moody's has placed Tesco's long-term debt rating under review for a possible downgrade following its recent profit warning.

Billionaire investor Warren Buffett has appeared on Chinese state television signing a song as part of the country's new year celebrations.

US treasuries have seen their worst start to a year since 2003 as investors grow more confident over the strength of the US and global economies.

M&G's bond fund star Richard Woolnough said the impact of eurozone failure and the potential introduction of trade barriers by major economies are the two greatest threats to markets in 2012.

Henderson's John Bennett has overhauled the Henderson European Focus trust, introducing more risk into the portfolio through active bets against the benchmark.

CHINA

Numis Securities predicts established equity income investment trusts will be the main beneficiaries of RDR when it is implemented next January.