A quoted investment company has questioned the financial stability of the Dawnay, Day Group, the UK property and financial services group that last week began a sale of its investments, contrasting earlier expressions of reassurance by investment trusts managed by the group.

The board of directors of AIM-listed Dawnay, Day Treveria, whose assets are managed by subsidiaries of the Dawnay, Day Group, said: "Despite extensive recent discussions with the asset managers, the board has not yet been given sufficient reassurance about the current financial stability of the asset managers."