L&G is to merge away its underperforming L&G Equity and L&G UK Active Opportunities funds in mid-November.
The £193m L&G Equity fund, managed by Richard Black, will be merged into the L&G UK Equity fund. The fund has returned 2.3% over the year to 16 September versus a sector average of 4.8%. Meanwhile Richard Penny's (pictured) £156m L&G UK Active Opportunities fund will be merged into L&G UK Special Situations. This has returned 1.1% over the year to 16 September, versus a sector average of 4.8% according to FE. In both cases, the original funds will be closed to buy and sells as of 7 November. The new fund mergers will take place on 14 November. The mergers follow the group's move ea...
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