Robin Geffen's Neptune Global Equity fund has become the boutique's second vehicle to surpass £1bn under management.

Morgan Stanley has warned an $8.8bn property fund could face losses of up to $5.4bn.

The FTSE 100 ended the day largely unchanged, closing down 0.28% or 15.99 points to 5,761.

The FTSE 100 has opened 0.06% or 3.24 points lower to 5,774 in early trading as rises in retail stocks were offset by falling mining shares.

Morningstar has bought fund ratings agency Old Broad Street Research for £11.95m.

The £156m Pacific Assets Trust reported a 56.8% rise in NAV, for the year ending 31 January 2010.

Numis Securities expects the number of investment trusts to shrink this year as disgruntled investors and hedge funds force smaller vehicles to close.

Offshore funds run by Franklin Templeton and J.P. Morgan have moved into top-quartile positions among peers after being admitted to into IMA sectors.

RLAM head of equities Jane Coffey has urged investors to avoid the current trend of overlooking growth stocks in favour of value.

The Rocksure Property Bravo fund has just bought a new property in Marrakech as its approaches its final closing.