L&G Investments is set to merge four funds it formerly managed for Barclays Wealth and Investment Management into existing in-house portfolios.
Barclays had previously run the funds but they migrated to L&G in 2002 and adopted dual branding, with L&G taking on responsibility for managing the portfolios. Barclays said it worked with L&G to move the majority of the dual-branded funds back to Barclays, but these four remain and have been renamed to differentiate them from the Barclays funds. The Legal & General (Barclays) 500 Trust will merge with the Legal & General UK Smaller Companies Trust, and the annual management charge (AMC) will rise from 1.25% to 1.5%. The group said the hike in AMC reflects the more active management ...
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