Managed funds

Stirling House Financial Services is launching five new fund of funds aimed at private clients, to be managed by Sarasin & Partners.

Psigma Investment Management has cut the AMC on its discretionary fund range from 1% to 0.5% in a move to broaden its reach into the intermediary market.

Old Mutual Global Investors' (OMGI) fund of funds manager François Zagamé has swaped First State for Schroders to run an Asian mandate for his £1.2bn Voyager Global Dynamic Equity fund.

UBS Global Asset Management is launching the UBS Sterling Corporate Bond Indexed fund, its first passive fixed income fund for the UK wholesale market.

Schroders will build a multi-manager arm to rival John Chatfeild-Roberts' Jupiter Merlin range once Cazenove's Marcus Brookes and Robin McDonald join the firm, global head of equities Peter Harrison has said.

Barings has added a multi-asset fund to its range with the launch of a Euro Dynamic Asset Allocation fund.

Schroders today announced it is in talks with Cazenove Capital about a potential takeover of the group, as the FTSE 100 giant moves to fill a Richard Buxton-shaped hole in its UK equity desk.

Jupiter's John Chatfeild-Roberts has warned investors not to get carried away with the euphoria surrounding equity markets, saying many companies are being kept afloat by low interest rates.

EQUITIES

Jupiter has been tipped as a likely winner in the asset manager space as the gap between those who receive advice and those who do not widens and pushes more consumers to self-invest.