Electra Partners' future hangs in the balance after its main investor – the listed trust Electra Private Equity – made the surprise, early announcement that it will be terminating its current contract with the private equity firm, although the longer-term picture remains unclear.

Electra Private Equity on May 26 published an interim update from on the strategy and policy review it kicked off in January. The trust reiterated its plan to complete the review in autumn 2016, although it outlined various changes that have already been decided on and have taken place with immediate effect. Financial News walks you through what you need to know.