Henderson is to convert its £1.8bn property unit trust to an OEIC in advance of a potential conversion into a Property Authorised Investment fund (PAIF).

Miton has said its multi-asset portfolios will continue to be positioned at the defensive end of the investment spectrum following the exit of manager Martin Gray.

Jupiter's Maarten Slendebroek

Unicorn Asset Management's John McClure has passed away, the board of the Acorn Income fund has announced.

Miton Group has agreed to acquire Darwin IM, with the latter's David Jane taking over the Miton Special Situations portfolio as Martin Gray leaves after 20 years.

Lloyds will price its initial public offering of TSB at between 220p and 290p per ordinary share, with the float set for 20 June.

The £2bn Templeton Emerging Markets investment trust (TEMIT) has proposed a fee cut as it prepares to mark 25 years of existence.

Lazard manager Pat Ryan is optimistic on the prospects for Chinese banks despite a string of well-publicised problems, and has increased exposure to the sector within his Global Equity Income fund.

Liontrust Asset Management is set to receive a boost to its share price as the company returns to the FTSE All Share index for the first time since late 2008.

Fund buyers are struggling to find funds which are inversely correlated with equity markets as they try to protect portfolios against a potential correction.