Invesco Perpetual is to merge its 997m European growth fund into its European equity fund following a strategic review.
Head of product development Alistair Campbell says the move is a result of the funds becoming more aligned in recent years.
European growth fund manager Stephanie Gerrard joined the firm from Aberdeen Asset Management in July 2003 and the fund is lying 64th out of 86 funds in the Investment Management Association’s Europe ex UK sector over three years.
Head of European equities Jeff Taylor, who runs the 727m European equity fund, will manage the merged fund, subject to shareholder approval.
Voting will take place on March 20, with the merged fund set to keep the European equity name.
Gerrard is understood to be focusing on running a number of European mandates for the group’s international funds.
Last year, Invesco Perpetual announced plans to launch European opportunities, emerging European and European income funds.