Henderson is merging a trio of Gartmore multi-manager funds into its own range and reshuffling managers across its range.
On August 12, the £6m Gartmore multi-manager active fund will be merged into the £429m Henderson multi-manager active fund.
The £284m Gartmore balanced fund will be merged into the £133m Henderson multi-manager managed fund and the £71m Gartmore cautious fund will be merged into the £652m Henderson multi-manager income and growth fund.
Henderson has appointed managers Chris Forgan, Helen Bradshaw and Paul Craig as co-managers to join existing managers Bill McQuaker and Tony Lanning. The multi-manager income and growth and £161m distribution funds will be managed by McQuaker and Forgan while the multi-man-ager managed fund will be run by McQuaker and Lanning.
The multi-manager active fund will be managed by McQuaker and Bradshaw.
The £104m Gartmore multi-manager absolute return fund will be retained under the management of Lanning and Craig.
The fund range continues under the management of McQuaker, who is also deputy head of equities.
This is the second round of mergers by Henderson on the multi-manager range this year following a raft in February when Mark Harris and Craig Heron left the asset manager.
McQuaker says: “The proposed mergers of the active, balanced and cautious Gartmore funds further streamlines our fund range and leaves us with a clear proposition across the risk spectrum.”
Hargreaves Lansdown senior investment adviser Meera Patel says: “It would have been silly to continue with so many multi-manager funds, so to consolidate it down to five makes sense. I would expect to see Henderson doing more consolidation across its entire fund range over the coming months.”