Multi-asset

Passive fund providers are under renewed pressure to reduce the cost of investing in their funds, following a move by Fidelity Worldwide Investments to cut fees on its index tracker range.

Barings has hired two former Schroders managers to strengthen its investment team after multi-asset managers Andrew Cole, Percival Stanion and Shaniel Ramjee quit the group.

ALTERNATIVES

Neuberger Berman has hired M&G's Gillian Tiltman for its global real estate securities team.

Invesco Perpetual has hired Danielle Singer from UBS to become the eighth member of its multi-asset team.

John Duffield's Brompton Asset Management has hired a new head of multi-asset to spearhead a drive into the sector.

Threadneedle has launched a Global Multi Asset Income fund, to be managed by Toby Nangle, as it seeks to provide an alternative vehicle for retirement assets.

Shareholders in the troubled Invesco Property Income trust have been told they are likely to lose their entire investment after it was suspended pending an effective firesale of its assets.

Standard Life Investments has overhauled its £420m Select Property fund, giving the portfolio a global remit.

F&C is in discussions with the IMA to add its Real Estate Securities and Real Estate Equity Long/Short funds to the IMA Property and Absolute Return sectors sectors respectively.