schroders

Robert Howell, manager of the Schroders Alternative Solutions Commodity fund, is leaving the firm, with emerging market chief Geoff Blanning to take over the portfolio.

Emerging markets took a tumble at the start of the year and worried investors pulled their money out of some of the largest emerging market equity funds in the UK market.

Two more investment trusts have cut their fees in a move analysts are pinning on increasing pressure from open-ended funds.

ONE TO WATCH

The top-performing Schroder Real Estate investment trust has launched a £40m cash call to shareholders in order to support a series of acquisitions across the property sector.

Skandia is poised to shake up the managed portfolio market with its suite of cut-price model funds, as the first look at WealthSelect reveals half the restricted range is priced at less than 60bps.

Friends Life is to pull a further £15bn of assets from F&C Asset Management by the end of the year, with the majority going to Schroders.

Schroders has said its UK funds are still open after the group's Massimo Tosato told analysts it is set to hard-close some of its most popular UK equity strategies in the coming months.

ON UK INCOME

Value is drying up among the largest investment trusts in the market, with discounts shrinking as buyers favour more liquid products.