Equities

Schroders has sold down its stake in beleaguered annuity provider Just Retirement group on Budget day, as Chancellor George Osborne dealt a huge blow to the industry.

The Kennox Strategic Value managers have been foraging for stocks left behind after last year's market rallies, searching for opportunities across Europe.

Fidelity Worldwide Investment has cut the annual charge on Anthony Bolton's China Special Situations investment trust ahead of the handover to incoming manager Dale Nicholls.

Fidelity's top performing fund manager Alex Wright has said the group will not let its flagship Special Situations fund grow to the size seen under previous manager Anthony Bolton.

ON EUROPE

SENATE CONFERENCE

THE BIG QUESTION

Asian markets suffered their worst weekly loss since 2012 as the EU and US considered sanctions against Russia following a referendum on Crimea.

Schroders has said its UK funds are still open after the group's Massimo Tosato told analysts it is set to hard-close some of its most popular UK equity strategies in the coming months.

Alken Asset Management has soft-closed Nicholas Walewski's Absolute Return Europe fund after the strategy experienced significant inflows.