Multi-asset

ON ASSET ALLOCATION

Man Group is to acquire hedge fund research and investment group FRM Holdings, rebranding its multi-manager business with the FRM tag.

MAM Funds is set to move four of its portfolios, including Martin Gray's £784m Special Situations fund, into different IMA sectors which better suit their investment mandates.

Former Close Asset Management executives have launched a property and tax planning investment management business called TIME Investments.

Gold had lost a fifth of it value since its peak last year as investors move into cash as fears over the eurozone crisis intensify.

Tom Dobell, manager of the £7.8bn M&G Recovery fund, has warned BP it must up its game or risk being snapped up by another oil major.

A group of hedge funds, including those run by Odey Asset Management, had a combined $1bn invested in JP Morgan Chase which suffered a near 10% drop in its share price on Friday.

Fund groups are scrambling to develop risk-rated propositions ahead of the RDR deadline at the end of this year, with major houses including Jupiter planning how to enter the space.

Shares in JPMorgan Chase fell almost 7% in after hours trading on Wall Street on Thursday after it revealed a surprise $2bn derivatives trading loss by a London trader.

The gold spot price fell to a four-month low of $1,596 on Tuesday after the dollar strengthened significantly against the euro and other leading currencies.