The Norway-based fund team bucks the trend and outperforms many peers in the offshore Equity - Emerging Markets sector over one, three and five years with focus on large caps and family-owned companies.

Wealth managers are becoming increasingly concerned about allocating towards the Neptune Income fund, amid Hargreaves Lansdown's decision to remove the fund from its Wealth 150 list earlier this week.

Aberdeen Asset Management was among the worst fallers on the FTSE 100 today, down nearly 5% in morning trading, as investors react to the recent sell-offs in EMs and panic over its impact on the group.

M&G has appointed Daniel White as manager of the £120m M&G North American Value fund, replacing Richard Brody.

Tineke Frikkee has bought into Lloyds as a play on the housing recovery, in one of her first trades since joining Smith & Williamson to run its £9m UK Equity Income trust.

Leading UK companies' profits dropped 34% over the year to end-March, according The Share Centre's Profit Watch UK research report.

Stephane Fertat, portfolio specialist for fixed income at T Rowe Price, has revealed the group's global bond funds have cut exposure to a number of emerging market currencies in recent months.

Stephane Fertat, portfolio specialist for fixed income at T Rowe Price, has cut exposure to a number of emerging market currencies in recent months.

Skagen is changing the investment strategy of its €921m global equity offering, the Skagen Vekst fund, to expand its investable universe and reduce dependence on the Norwegian energy sector.

The FTSE has tumbled as much as 2% as US ten-year yields touch two-year highs in expectation of an imminent slowdown of the Federal Reserve's quantitative easing programme.