F&C to merge Doel's UK Opportunities

F&C Thames River is to streamline its UK fund range next month by merging two of its UK equity funds into larger offerings.

The group is proposing to merge Phil Doel’s £63m UK Opportunities fund into the £150m UK Equity fund, run by head of UK equities Peter Lees. It is also planning to merge the £31m UK Growth and Income fund, run by Hilary Aldridge, into Doel’s £192m UK Equity Income fund. Under the proposals, Aldridge would become deputy manager of the fund. The move will allow Doel to focus on managing the group’s UK equity income franchise, while Lees heads up UK growth, the group said. Shareholders will cast their votes for the proposals in an extraordinary general meeting on June 15, with the me...