News

The government's plans to ringfence UK banks' retail businesses are 'barking mad' and could threaten the fragile economic recovery, the chief of a leading British business association has said.

The International Monetary Fund has slashed its growth forecast from 2.5% two months ago to 1.6%, according to Italian news agency ANSA.

LVAM's Graham Ashby and Cavendish's Paul Mumford have both ruled out buying into Glencore, although its share price has dived 13% since listing on the London market in May.

Rathbone's multi-manager David Coombs has upped exposure to index trackers and investment trusts as recent volatility moved them to more attractive valuations.

Andrew Bell is set to boost emerging market exposure on £1bn Witan trust and halve number of European stocks.

Luke Hickmore, the manager of the £77m SWIP Strategic Bond fund, has upped exposure to high yield and investment grade cross-over indices in a short-term bid to protect the portfolio against unknown risks in the market.

The UK government bond bull run is ‘overdone' and set to derail, with yields rising from their historic lows as investors struggle to find value in the space, managers say.

Rathbones' Income manager's softens defensive stance to buy media and hotel stocks.

Cazenove's Paul Marriage said the short positions in his Absolute UK Dynamic fund have helped limit the effects of the August sell-off but warned September could be "similarly tough".

Legg Mason is expanding its retail range for UK investors with the launch of a US equity income fund, previously only available to US investors and run by New York-based subsidiary ClearBridge Advisors.