schroders

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.

Shares in Schroders and Aviva jumped sharply today after strong full-year results from both firms, helping to keep the FTSE 100 ahead.

Schroders today said profits at its wealth management business had rebounded sharply following the takeover of Cazenove in July, while asset management profits also jumped as the business moved on from the loss of star manager Richard Buxton.

Some of the UK's largest fund houses are shifting focus to concentrate on ongoing charges after Invesco Perpetual became the first group to ditch annual management charges (AMCs) altogether.

Hargreaves Lansdown has revealed the exact details of its new clean pricing deals from leading fund groups including M&G, Newton and Schroders.