Premier Asset Management is set to merge its £41.3 million Premier UK Mid 250 fund into its £82.6 million Premier UK Growth fund as part of restructuring its product range.
The merger, which is subject to approval by investors, will result in a new fund known as Premier UK Growth fund that will be roughly £124 million in size.
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However, White will continue to manage the merged Premier UK Growth fund.
The two funds that are currently managed by head of UK equities Chris White, will deliver long-term capital growth by investing primarily in UK equities.
The Premier UK Mid 250 will focus on FTSE 250 companies while Premier UK Growth Fund is a multi-cap fund and holds larger, mid-sized and smaller business.
Simon Wilson, marketing director at Premier, said: "We took the chance to review our UK growth proposition when Chris White was appointed manager in July 2013.
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By GlobalData"In line with our aim to offer relevant investment solutions that offer good outcomes to our clients, merging these two UK growth funds into a single, multi-cap, best ideas fund creates a single, larger growth fund, exciting growth prospects and a great management team," he added.
