Threadneedle is to merge its multi-manager range into funds run by Seven Investment Management (7IM), with two managers set to move across as part of the deal, Investment Week can reveal.
The fund giant wrote to clients to propose the mergers after conducting a review of the £350m range it took on from LV= Asset Management in 2011. That review concluded the funds would be better served under the management of a specialist multi-manager firm. Shareholders approved the proposals at an EGM on 6 March. Threadneedle's multi-manager team, headed by Giles Gilbertson and Damian Barry, will move across to 7IM as part of the deal. The mergers will see the likes of the £100m Threadneedle Managed Portfolio 5 fund combine with the £700m 7IM Balanced fund, and the £116m Threadneedle...
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