View more on these topics

F&C merges four multi funds with Thames River

F&C is merging four of its multi-manager funds into funds at Thames River Capital, which it bought in September for £53.6m.

The £255m F&C multi-manager distribution fund is merging into the £248m Thames distribution fund and the £89m F&C multi-manager cautious is merging into the £180m Thames cautious managed fund. The £89m F&C multi-manager balanced is merging into the £48m Thames balanced managed fund and the £82m F&C multi-manager growth is merging into the £15m Thames equity managed fund.

The mergers will add 25 basis points to F&C clients’ annual charge. They currently pay 1.25 per cent compared with the 1.5 per cent on the Thames funds.

But Thames River head of UK sales John Yule says: “The enlarged funds will have greater economies of scale, which will help to reduce the total expense ratios of each fund over the longer-term.” F&C fund shareholders approved the mergers by a 99 per cent majority.

F&C’s former head multi-manager Dean Cheeseman quit the firm after it put Thames River multi-managers Gary Potter and Robert Burdett in control of the combined range in September. Cheeseman’s former colleagues Paul Carne and Catherine Sauer have now joined Thames River.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm