RLAM

After a volatile start to 2012, equity markets have staged a prolonged rally in recent weeks.

Old Mutual Asset Managers has poached RLAM's European star fund manager Kevin Lilley to head up the group's £71m European Equity fund.

The last few weeks have seen unprecedented market volatility as investors take fright at the ongoing debt crisis in the eurozone and a series of weak economic data from the US.

RLAM European Growth manager shuns defensives and piles into banks with eurozone issues ‘already in the price'.

Royal London Asset Management saw the value of its new business drop 85% during the first half of the year.

Royal London group chief executive Mike Yardley is planning to step down to focus on helping the industry tackle future challenges.

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Royal London has scaled back its UK earnings forecast, following the BP oil spill, though it believes UK equities look attractive over the longer term.

Asset backed securities (ABS) are presently the most attractive section of the corporate bond market, according to Royal London's Sajiv Vaid.