Threadneedle Investments has disclosed its plans to merge its £350m multi-manager suite of funds with the UK-based Seven Investment Management (7IM).
The transfer, scheduled to take place on 23 April 2015, will include Threadneedle multi-managers Giles Gilbertson and Damian Barry in addition to their seven- risk-rated fund range.
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The mergers will see the integration of £100m Threadneedle Managed Portfolio 5 fund with the £700m 7IM Balanced fund, and the shift of £116m Threadneedle Managed Portfolio 4 fund to the £274m 7IM Moderately Cautious portfolio.
Threadneedle said in statement: "Multi-asset investing is a key part of our business and we have a long heritage in managing asset allocation solutions.
"We believe that it is in the best of interest of these funds’ investors that they are managed by a specialist provider. Following an extensive search for a partner to take on the funds we believe 7IM provides the best fit in terms of investment approach and client service."
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