News

SVM Asset Management has invested about half its fund of funds assets in investment trusts that have remained at excessively wide discounts to NAV since the credit crisis.

The luxury goods sector will not suffer as a result of a global environment of austerity, says the manager of the Swiss & Global's Luxury Brands fund.

Richard Watts has struggled to maintain performance on the Old Mutual Select UK Mid Cap fund since taking it over from Ashton Bradbury last year.

Harriet Harman, deputy leader of the Labour Party, has blasted the coalition Government's emergency Budget as "reckless" and says it will "pull the rug from the UK economy."

Baillie Gifford's Patrick Edwardson has been increasing equity exposure in the £370m Scottish American Investment trust during the recent market volatility.

Premier's Mike Jennings has removed the requirement for his Global DSR fund to have at least 50% sterling exposure due to its negative impact on performance.

Architas' Caspar Rock has restructured the Asian equities portion of his £64m Multi-Manager Growth fund to smooth returns.

Last week China's central bank announced it would introduce flexibility in the exchange rate of the renminbi, removing its peg to the dollar and allowing the currency to appreciate.

The after-effects of the credit crunch combined with a lacklustre UN Climate Change Conference have led the BlackRock New Energy trust to underperform, its managers say.

The UK gilt market rallied in the run-up to the Budget and while Osborne was giving his speech, but this initial growth spurt now seems to have moderated.