Twenty investment trusts have scrapped performance fees so far this year as pressure from open-ended rivals causes boards to take action.

Inertia hits even the largest players

Jupiter Asset Management's Peter Lawery, a key part of the group's Merlin multi-manager team headed by John Chatfeild-Roberts (pictured), is to retire at the end of the year.

Traditionally, fund managers have only ever shown investors the top ten stocks they are currently holding when they send out their latest factsheets.

Legal & General Investments is to merge its active North American fund into its much US index fund, as well as merging two of its Asia-Pacific mandates.

US Fed chair Janet Yellen has said the 2008 financial crisis would not have been prevented had interest rates been higher, adding that fresh concerns about financial stability now should not prompt a rate increase.

T. Rowe Price has launched a new offshore frontier markets fund for manager Oliver Bell.

Property funds have topped the latest sales charts from the Investment Management Association (IMA), with retail investors pumping a net £491m into the asset class in May.

Talk about an impending interest rate hike is building in the UK, despite recent mixed messages from Bank of England Governor Mark Carney. However, one of the UK's leading investors, Neil Woodford, is not expecting an imminent rise, and these three charts...

Fidelity Worldwide Investment is to change manager on its £432m European Opportunities fund later this year, bringing in a manager who has been running offshore mandates.