The group, which acquired SocGen Asset Management in April, plans to merge the £47.9m UK active 350 fund into the £95.1m UK growth fund.
It is also merging the £53.2m UK special opportunities fund into the UK select fund, a new offering that GLG intends to launch at the end of July. It has also proposed the closure of its £17.9m UK smaller companies fund.
GLG last month appointed John White and Jason MacKay to manage the five UK funds inherited from the SGAM deal. The funds are worth a total of £250m.
White and MacKay currently run the GLG alpha select fund and the group is planning to launch a Ucits III version of the fund. The pair run an offshore version of the UK select equity fund.
GLG also intends to close the £7.8m corporate bond fund to new investment from September 1 as well as changing the name of the international bond fund to the international corporate bond fund.
Hargreaves Lansdown senior analyst Meera Patel says: “You expect rationalisation on the back of mergers and there are too many funds in the investment universe already.”