News

Guy de Blonay has turned over 20% of the £900m Jupiter Financial Opportunities fund, selling out of major Chinese banks and buying into US financials.

Inflation in the emerging markets will rise further over the next three months followed by further tightening measures, while the US has seen a rapid rise in growth expectations, says Jeremy Podger at Threadneedle.

Persisting unrest in Libya has dragged global markets down, with London's leading share index dropping back below the 6,000 mark reached yesterday afternoon.

Gartmore's annual results, released today, show £7.2bn of assets left the firm in 2010, compared to a net inflow of £300m in 2009.

The FTSE has staged a fightback and is now back above 6,000 points despite falling 1.3% earlier in the session on the back of political unrest in Libya and oil prices close to hitting two-and-a-half-year highs.

Threadneedle's co-head of UK equities Simon Brazier has been buying into "unloved" UK domestic stocks in the view valuations are attractive compared to those with coveted emerging market exposure.

Reducing average duration is not the best way to benefit from rising interest rate rises, according to LVAM's Michael Wright, who prefers to buy longer-dated gilts and cash.

Sanford DeLand Asset Management is preparing to launch a UK-focused fund based on the principles of veteran investor Warren Buffett.

Emerging markets firm Charlemagne Capital has launched the Magna MENA fund, which will invest up to 90% in Gulf Co-operation Council regions to play higher oil prices.

BP has a sealed a $7.2bn deal with Reliance Industries, taking a 30% stake in the Indian energy firm.