Schroders and New Star ring fund manager changes

60 potential redundancies and fund mergers at Schroders, while Fidelity, Threadneedle and Gartmore also announce a wave of job losses

Consolidation in the industry began in earnest this week as Schroders looks set to merge two major UK funds - UK Select Growth and UK Equity - and New Star continued its reshuffle of managers in a bid to improve its overall performance. Schroders is planning to merge its £188m UK Select Growth fund into Simon Brazier's £374m UK Equity vehicle, Investment Week understands. Vincent Vinatier, co-manager of UK Select Growth, has been told that his job is at risk, one of 60 potential redundancies at the firm, including European manager Olaf Siedler. UK Select Growth, which Vinatier has run...