Managed

Net retail sales of UK domiciled funds reached £2.1bn in April, the highest level since April last year and well above levels seen over the last nine months.

BlackRock's absolute return manager Mark Lyttleton is taking an extended break from the industry for family reasons.

SECTOR REPORT

BESPOKE

Fidelity's multi-manager team has dropped Sanjeev Shah's £2.4bn Fidelity Special Situations fund from its Select List of preferred funds.

CRUEL APRIL

MANAGED

Schroders is preparing to launch a fund of funds investing in a range of the group's own Maximiser and fixed income portfolios.

PERFORMERS

Fund providers are preparing for the RDR deadline at the end of the year by launching share classes without commission and platform fees.