News

Julius Baer's Andy Kastner is rotating his absolute return portfolio into defensive sectors including utilities and pharmaceuticals amid ongoing turmoil in European stock markets.

The FTSE 250 could rise a further 15% in 2011 despite surging more than 25% in 2010, said Old Mutual Asset Managers mid-cap specialist Richard Watts.

Artemis' James Foster has taken off a 12% short position in UK gilts and US treasuries in the past few weeks, in the view the MPC will not hike rates until August.

The European Central Bank is likely to hike interest rates just 25bp to 1.5% by the end of the year, as core inflation remains steady and has barely increased, said Alan Brown at Schroders.

MAM Funds' Martin Gray is holding 40% in cash in both his multi-asset funds due to a "lack of opportunities" in markets.

Leading fund managers including RWC income duo Ian Lance and Nick Purves have removed US dollar hedges on their portfolios in the view the currency has bottomed, leaving them at odds with currency specialists who predict further falls.

Generalist investment trusts failing to attract investors as macroeconomic headwinds grow.

GAM has launched a global bond fund for managers Tim Haywood and Daniel Sheard aiming to deliver between 5% and 10% per annum for investors through a wide spectrum of fixed income securities.

The European Union (EU) is preparing to restructure Greece's rescue package after ministers publicly acknowledged it would need further assistance.

Jupiter income manager Tony Nutt has made the Sunday Times Rich List for the first time with a fortune of £76m.