Index-tracking funds holding non-voting shares in asset manager Schroders will be forced to sell down their stakes from June 1 when new rules are adopted by the administrator of the FTSE suite of indices.

FTSE Group will ban non-voting shares from inclusion in its suite of indices - which includes the blue-chip FTSE 100 index of leading UK shares - in the final step to adopt stricter listing rules, the FTSE Group said this week.