Merrill Lynch

HIGH YIELD

CONTRARIAN INVESTOR

J.P. Morgan Asset Management (JPMAM) has hired the head of Bank of America Merrill Lynch's global equity sales desk as co-manager on its £86m Global Equity Income fund.

Leading bond managers including Jim Leaviss at M&G are moving away from high yield debt on concerns over rising leverage in the US and high valuations.

Bill O'Neill, head of chief investment office of wealth management research UK at UBS Wealth Management, has warned there are three key 'nasties and traps' to watch out on the way to global economic recovery.

Invesco Perpetual is to change the name of Paul Causer and Paul Read's top-performing European High Yield bond fund to better reflect its global investment approach.

Political uncertainty in the US has caused the dollar to weaken, forcing many investors to reverse their long positions in the currency to a more neutral stance.

Matthew Shafer has joined Natixis Global Asset Management from Merrill Lynch as managing director of the UK retail business and global key accounts, replacing Ed Farrington.

Managers have suggested growth stocks - many investors' favoured plays for a post-QE era - may struggle once the Fed slows its asset purchase programme.

IT