An underweight to the commodities sector and a heavy overweight to financials has hit performance on the Fidelity Special Situations fund over the last year.
Franklin Templeton has today completed its £45m cash purchase of Rensburg Fund Management from Investec.
Jupiter saw its assets under management climb 9% to £24bn in the fourth quarter, with net inflows of £772m beating analysts' expectations.
Old Mutual Asset Managers is to merge its two income funds run by Stephen Message, subject to FSA and shareholder approval.
Inflation edged closer towards 4% in December as the rising cost of food and oil products continued to hit the price of goods and services.
Important members of Chancellor Angela Merkel's coalition in Germany are resisting plans for an increase in the EU's bailout fund to protect Spain from contagion, complicating a crucial meeting of EU finance ministers on Monday.