News

Andy Brough has reduced the number of holdings in his £1.6bn UK Mid 250 fund as he looks to concentrate his portfolio around core positions.

Pharma stocks could be "dramatically re-rated" in the next three to four years, said PSigma's Bill Mott, as analysts realise it is one of the few sectors that can deliver shareholder returns in the face of economic uncertainty.

Yesterday's new rescue package for Greece will be the first of many, according to Stuart Thomson, chief economist at Ignis, who added Europe's next problem will be recessions in Spain and Italy.

Managers have welcomed the €109bn bailout plan for Greece agreed by European leaders yesterday, saying although sovereign debt crisis is not over, the latest plans are a step towards a solution.

Newton income manager Iain Stewart has warned the problems in Greece are just the tip of the iceberg of a ‘monetary distortion' across the developed world and could trigger 'debt dominoes' throughout Europe.

Crude oil advanced for a fourth day on signs Europe and US will contain their debt crises, easing speculation demand for raw materials will suffer, Bloomberg reports.

Morgan Stanley has been dubbed 'the new Morgan Sachs' after its equity and bond traders captured market share from rivals over the past quarter.

BlackRock is to launch a global emerging markets income fund in August as part of its BGF Luxembourg range.

Anthony Cross' bearish views on retail banks and UK consumer-facing stocks are driving returns on the Liontrust Special Situations fund, which has seen assets grow from £13m last June to £131m.

Barings' Andrew Cole has slashed the equity weighting on his £28.1m Multi Asset fund by 15% in favour of government bonds as his team becomes increasingly risk averse.