S&P 500

MULTI-ASSET

Multi-asset managers are raising cash levels and adding to government bonds as fears over the US economy spook investors.

Christine Lagarde, managing director of the International Monetary Fund (IMF), has warned failure to raise the debt ceiling could be far worse than the current US government shutdown.

Rathbones Unit Trust Management has selected five US equity funds that can add value at a time when many managers are struggling to outperform the S&P 500 index.

BEHAVIOURAL FINANCE

Investors fled Italian equities on Monday morning as political tensions resurfaced in Italy, while fears of a potential US government shutdown also impacted markets across Europe.

Bestinvest has awarded a three-star rating to competitor Vanguard's S&P 500 ETF after recommending a switch away from iShares' S&P offering.

Bestinvest has suspended its rating of the iShares S&P 500 ETF, after the provider announced today it will only cut the fee on the accumulating share class, and not the distribution version.

CONTRARIAN

iShares has streamlined its European ETF range and significantly reduced fees on a range of funds following the acquisition of Credit Suisse's ETF arm earlier this year.