Story by: Nick Rice, Investment Adviser
The head of European equities at Invesco Perpetual has taken a more defensive stance in his European Equity fund after dismissing managers' optimism on economic recovery as temporary.
"Completely different reasons" prompted the recent resignations of two European equity managers at GAM, according to the firm's head of retail.
Richard Saunders, chief executive of the Investment Management Association, denied that the so-called 'Anglo-Saxon' mode for financial supervision led to the financial crisis in Europe.
Merrill Lynch survey finds managers are 'rewriting the rules' on portfolio positioning
Gartmore Investment Management has hired John Bennett as senior portfolio manager for European equities and is set to make him manager of the £1.5bn Gartmore European Select Opportunities fund.
As the early signs of a recovery begin to take shape, optimistic investors are moving their portfolios increasingly into emerging markets, according to the latest Merrill Lynch fund manager survey.
The European Central Bank (ECB) has estimated that banks in the euro area will need to write-down a further $283bn (£172bn) of losses by the end of 2010.
Fortis has appointed Bart De Smet as its new chief executive, replacing Karel De Boeck.
The manager of the BlackRock European Absolute Alpha fund has said he is reinvesting in the bugbears of the credit crisis, such as financials, autos, luxury goods and variable-rate borrowers.
A bias towards Russian stocks and an underweight position in central Europe helped drive Ignis International Hexam Emerging Europe fund to the top of its sector this year, according to manager Stuart Richards.
Artemis fund manager Philip Wolstencroft talks to Stephen Wilmot about learning from past mistakes
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As the UK sinks further into debt, awash with devalued cash thanks to quantitative easing, it will be interesting to see if investors finally let slide the domestic bias that currently hogs their portfolios.
The case to own German bonds is greater than that to own British ones, as a hedge against deflation
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