Managed solutions

City Financial is to acquire the multi-asset range of Investec Wealth & Investment, bringing a further £204m in assets to the company.

Should advisers leave fund picking to DFMs?

Friends Life is planning to transfer £24bn worth of segregated mandates from AXA Investment Managers to Aviva Investors, following its takeover by the latter's parent company at the end of last year.

The Targeted Absolute Return retook its place as the UK's best-selling sector in June as investors sought reassurance in choppier markets.

Barings has made two senior additions to its multi-asset team as its develops a new long/short fund.

What were the top ten bestselling pension funds in June?

Multi-asset managers have started reinvesting their high cash positions, with many topping up European exposure as Greece finally reaches a new deal with its creditors.

Rathbone Unit Trust Management is to cut fees on its entire multi-asset range, as it prepares to include direct equities in portfolios as part of a shift to a "private client-style product".

One of the early pioneers of multi-manager investing and risk profiling, Phil Morse, has passed away after a short illness.

Hargreaves Lansdown has launched six "ready-made" portfolios for non-advised investors, offering access to its £5bn multi-manager range for an ongoing fee below 2%.