UK

We ask fund managers which sectors they think will perform well as the UK economy starts to improve.

A respected think tank has raised its UK growth forecasts for this year and next but warned any recovery is dependent on consumer spending.

CONTRARIAN

The International Monetary Fund has raised its forecast for UK growth this year in the face of sharp cuts to world, US, eurozone and emerging market predictions as it warned that "downside risks to global prospects still dominate".

An offshore property fund investing in student accommodation around the UK has been hit with claims investors cannot redeem their investments.

ON UK INCOME

Aviva Investors head of equities David Lis lists financials, media, mining, support services and smaller companies as the places he is seeing the most value in the UK equity market.

The UK economy grew by 0.6% in the three months ending May, driven primarily by growth in the production and private services sectors, according to the National Institute of Economic and Social Research (NIESR).

UK funds blossomed in May as, despite UK sectors seeing outflows, four were placed in the top 20 overall selling funds, according to figures from platform Cofunds.

Supervision of the scandal hit Libor interest rate could move to Paris under plans being drawn up by the European Commission, dealing a potential blow to London's financial pre-eminence.