The group has written to shareholders to approve the merging of the emerging markets ex Pacific Asian equity, European dynamic, FTSE 100 tracker, Japan growth, Latin America equity, managed balanced, managed distribution and UK dynamic funds.
If approved by shareholders at a meeting on 10 June 2009, the mergers should be concluded by the end of the month.
F&C head of UK retail John Yule says: “We have concluded that these funds are subscale in size and in each case we believe that the prospects of attracting new assets into the fund are very limited in the current climate.
“Small funds, which are unlikely to grow, can have disproportionately high costs compared to larger funds and it can be difficult to deal efficiently with the underlying investments. We therefore consider it to be in the best interests of shareholders to merge these funds into others with greater scale. Streamlining our fund range will also provide our fund managers with greater focus.”