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.

CHINA

Witan Investment trust has created a special portfolio to be managed by new chief executive Andrew Bell.

The FTSE 100 opened higher, up 0.26% or 13.87 points to 5,289.31, supported by M&A activity in the resources sector.

Aberdeen has raised £52m for its Latin American Income fund which starts trading on Monday.

Fund of funds recorded their highest ever quarterly net retail sales in Q2 at £2.3bn, according to the IMA.

Minority shareholders in F&C Commercial Property trust (FCPT) have rejected a proposed takeover by Ignis-managed UK Commercial Property trust (UKCPT) to create a £1.6bn vehicle.