Markets

1. Gold demand drops 34% as economy brightens

   Demand for gold has dropped by over a third year-on-year, despite a recent surrge in its price, as investors turned away from the safe haven investment and look for riskier assets.

2. Junk bonds set for record 2010

   Sub-investment grade companies could raise a record $210bn (€134bn) in the bond markets next year, with reduced bank lending and increased risk-appetite among investors combining to drive issuance.

3. Cash floods UK property managers

   Institutional investors are so enthusiastic about UK commercial property that asset managers are “struggling to cope” with the surge in demand – leading some to restrict inflows and others to trade on the secondary market for fund units.

4. Norway fund has 'best ever quarter'

   The giant Norwegian Government Pension Fund, one of the largest sovereign-wealth funds in the world, has reported its best quarterly returns on record and has unveiled a new recruitment programme aimed at finding its next generation of leaders from among the most talented graduates.

5. Liechtenstein Removed From OECD Tax Watch List

   Liechtenstein was removed from an international watch list of tax havens Wednesday, a move expected to ease pressure on the country's financial sector which has been criticized for its lax tax rules.

6. Switzerland – post banking secrecy

   The Swiss government has bowed to international pressure and eased its bank secrecy rules, a move that some sceptics believe will make the country less competitive. But a low-tax environment and a high standard of living means that the Alpine nation continues to attract both wealthy individuals and companies.

7. UK managers urge Government action on offshore domiciles

   The UK’s asset management industry has urged the UK Government to target the fund domiciles of Dublin and Luxembourg, in an effort to win tax revenues worth hundreds of millions of pounds.

8. Local authority drops UBS after ‘unsuccessful’ run

   The Bexley local authority pension scheme has decided to dump a balanced mandate managed by UBS, after research found the asset manager’s investment decisions were “unsuccessful” over six years.

9. Balancing act pays off for funds

   During the ravages of the financial crisis last year fund managers might well have given up on their mantra that asset allocation minimises risk.

10. Debt defaults hit record but expected to slow

    Default rates of low quality debt at European companies are expected to slow after reaching a peak at the end of September; the figures suggest that private equity firms may have reached their worst point in the credit crisis.