Managed

Franklin Templeton is to close two of its UK OEICs and merge away two others following a review of its UK domiciled fund range.

Allianz Global Investors is to launch a range of risk-rated multi-asset funds in response to growing demand for "outcome-orientated" solutions.

FADING LIGHT?

FIVE THINGS

Gary Shaughnessy, head of Fidelity's retail business, is leaving the firm to become chief executive of Zurich's UK life business.

Kames Capital is to waive the performance fee on its £65m UK Equity Absolute Return fund for the rest of the year, and will cut it in half from 2013 onwards.

Axa Wealth is launching a restricted advice offering for advisers looking to move away from independent status.

The FSA is to look into charges levied by UK fund management groups after its head of investments policy queried why they had been rising in recent years.

Investment boutique RMG Wealth Management has launched the RMG Real Return fund, targeting a positive return regardless of market direction.

Q2 OUTLOOK