News

US stocks slumped to their worst August in nine years, as investors retreated on fears for the US economy.

Royce & Associates co-CIO Whitney George believes markets are entering a ‘supercycle' in M&A activity, as the subdued economic environment forces companies to attempt to acquire growth.

Whitney George, who oversees $30bn at US small-cap specialist Royce, has taken a position in Jupiter on the view asset managers will thrive as the developed world looks to increase savings.

LV= Asset Management is launching a hedged share class for its European ex-UK Growth fund, to minimise currency risk for investors.

Bob Doll, chief equity strategist at BlackRock, says stocks are being pulled in two directions and are likely to keep to a narrow trading range until economic data improves.

George Luckraft's Framlington Innovative Growth trust faces liquidation after investors representing more than 50% of its shares opted for a cash exit.

The FTSE 100 moved slightly lower in afternoon trading as double-dip fears persisted on the back of negative housing market data.

Aegon's Phil Milburn expects Irish banks to be able to refinance debt coming up for renewal next month, despite some predicting another testing time for the region.

Carlos de Leon has joined Allianz RCM as a portfolio manager ahead of the launch of its Brazil fund in October.

Skandia has handed Henderson a £7.2m mandate within its £60m UK Strategic Best Ideas fund.