News

Worse-than-expected economic data from the US last week reignited fears of a double-dip recession, but managers are cautiously optimistic the economy will remain supportive of global growth.

Baillie Gifford's head of emerging markets Richard Sneller has assumed control of the Pacific fund following a reshuffle at the group.

The manager of the £163m Sarasin Sterling Bond fund is adding subordinated financial debt to the portfolio because he believes the assets are undervalued in light of Basel III.

HSBC has launched its Global Inflation Linked Bond fund with overweights to the US and Japan, but an underweight to the UK.

Sarasin's deputy CIO and head of multi-asset funds Daniel Briggs has left the group.

Schroders' Matthew Dobbs has taken his fund's Singapore weighting from 10% to 20% since May, as prices have become more attractive.

Querns Asset Managers' Phil Roantree has invested one-third of assets in the bond portion of his Income First fund in banks and insurers two months after the vehicle launched.

CHINA

Jupiter star manager Philip Gibbs will need to generate a higher return to obtain a performance fee this year after being forced to change the benchmark on his International Financials fund.

M&G head of retail fixed income Jim Leaviss believes government bonds still offer value despite the yield on the 10-year gilt approaching historic lows last week.