News

Some UK equity fund managers are taking risk off the table in the belief Britain is facing a double-dip recession, following lacklustre GDP figures released last week.

J.P. Morgan has raised £46.7m for its Brazil investment trust, the first UK closed-ended company focused on the Latin American country.

Thames River Capital's Peter Geikie-Cobb has begun hedging long-duration treasuries held in his £770m Sterling Global Bond fund, in the view the Federal Reserve may tighten monetary policy.

The manager of the Dalton Strategic Partnership MST European fund is adding an extra 20% market exposure after noting a fall in volatility to pre-Lehman Brothers levels.

Wealth manager Smith & Williamson has lambasted investment trusts with no formal process to control their discount.

Inflation figures released last week by the Office for National Statistics show a higher-than-expected jump, while the Bank of England's Monetary Policy Committee (MPC) has revealed its members are increasingly worried about the rise.

Old Mutual's Stephen Message has reduced the number of holdings in the £30m Equity Income and £24m Extra Income funds he inherited in November.

Chris Rice has moved his Cazenove European fund to an overweight in media, technology and business services ahead of an expected surge in capital expenditure that will benefit the sectors.

Paul Brain plans to increase his allocation to developed market sovereign debt in his Newton Global Dynamic Bond fund from 5% to 30% over the next few months.

Greece bowed to international pressure last week by formally requesting a bailout from the eurozone member countries and the International Monetary Fund.