News

Funds under management at Man Group-owned GLG shrank by $1bn in the three months to the end of 2011, according to a trading statement released today.

Fears we are facing a period of prolonged inflation are "unfounded", said Monetary Policy Committee (MPC) member Adam Posen, speaking on a day when UK inflation dropped sharply.

John Dodd and Richard Hulf, managers of the £84m Artemis Global Energy fund, are reducing exposure to eurozone-domiciled assets as they refine their approach to stock selection.

Italy's will struggle to finance itself until borrowing costs fall back towards the 4% level, according to Goldman Sachs Asset Management chairman Jim O'Neill.

Henderson's Chris Burvill has forecast global equities could rally by as much as 20% in 2012 if more positive economic data continues to be seen from major economies.

Neptune's Felix Wintle has been adding to national and regional banks in his £464m US Opportunities fund, cutting technology and energy stocks after a strong run.

US investment banking giant Citigroup saw its shares tumble in early afternoon trading after the group revealed a fall in profits and sliding revenues.

FSA rules around legacy assets are "unclear" and "incomplete" and could result in less transparency for consumers, according to the Investment Management Association (IMA).

NINE WORST ASSET BUBBLES

S&P's latest raft of downgrades were largely priced into markets, but more worrying is its forecast of a high chance of a deep recession in the region, said Schroders' European economist Azad Zangana.