Multi-asset

Hedge fund manager John Paulson's gold fund has posted its third successive double-digit monthly loss and now stands down 65% this year, according to reports.

Odey Asset Management is to soft-close James Hanbury's top-performing £629m UK Absolute Return fund next week, Investment Week can reveal.

The performance of the Standard Life Investment's Global Absolute Return Strategies (GARS) fund significantly lagged the IMA Targeted Absolute Return sector amid recent market volatility as some positions failed to pay off.

The Targeted Absolute Return sector was the best-selling IMA sector in May, with £255 million in net retail sales, well above its average figure for the year.

BlackRock has promoted Stefan Gries to co-manager of its European Absolute Alpha fund alongside Vincent Devlin.

INDIA

The price of gold has continued its decline, falling below the $1,200 mark on Thursday for the first time since August 2010.

An offshore property fund investing in student accommodation around the UK has been hit with claims investors cannot redeem their investments.

The gold spot price hit a 33-month low today after positive US economic data strengthened the case for a tapering of quantitative easing, further eroding demand for safe havens.

Eclectica's Hugh Hendry added to a short position in Chinese equities in May, weeks before a soaring interbank rate sent the country's stock market into bear territory, it has emerged.