Multi-manager

BARING Asset Management's (Barings) Multi Manager Property fund manager has increased his exposure to international property as opportunities in the UK look less promising in 2007.

PATRICK Armstrong, joint head of multi-manager for Insight Investments, has taken a 2pc position in a Japanese residential property investment trust in the £81m Diversified Target Return fund.

MULTI-manager funds are used as core holdings by 38pc of IFAs who use the products, according to a new survey by Fidelity International.

HSBC's new Open range, announced in Professional Adviser in November, will be extended in the New Year with the addition of two further funds.

BAMBOS Hambi, Gartmore's head of multi manager, has pulled a portion of the Japan weighting from his funds and shifted it into the US.

AS liquidity drains out of the world market fund of funds managers increasingly face global asset allocation challenges, John Kelly, head of multi-manager for Abbey has argued.

T.BAILEY is increasing the trail commission on its funds from the industry standard of 0.5pc to 0.75pc.

SKANDIA has broken through the £25bn mark for open architecture funds under management.

CHRIS Rodgers, HSBC's head of UK equities, is to leave the group to set up a boutique fund house with two former Schroder colleagues in the latest fallout following the bank's switch to multi-manager.

THE Premier Selector Growth fund lost out as a result of a bias to the oil sector last month, according to its manager.