Multi-asset

London's Gherkin skyscraper has entered receivership after one of its owners filed for insolvency.

Legal & General is to convert its £1.2bn UK Property trust into a property authorised investment fund (PAIF) next month.

Multi-managers are continuing to turn to commercial property as they seek to combine capital growth with new income streams.

Hedge funds

Sarasin has scrapped the performance fee and reduced the annual management charges on its AgriSar fund as it prepares to rename the vehicle.

Jupiter's John Chatfeild-Roberts and team have added a commercial property play as well as funds from Invesco Perpetual and Majedie as part of the latest changes to their Merlin multi-manager portfolios.

Fund buyers have been selling down their exposure to Hugh Hendry's Eclectica Absolute Macro fund after his performance downturn accelerated at the start of 2014.

BlackRock has cut the annual management charge (AMC) on its Natural Resources Growth & Income fund after a review of its pricing.

Fidelity Worldwide Investment has moved to put pressure on rivals in the passive space with the launch of four low-cost index funds.

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