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Marlborough reduces multi-manager range

Marlborough Fund Managers is merging its active managed and international funds of funds, reducing its multi-manager range to three funds.

The company says its 4m active managed and 4m international equity funds, run by Gurjit Soggi, have too similar portfolios and are unecon- omic in size.

It was felt that the active managed fund was surplus to requirements so a decision was taken to merge it with the international equity fund. Soggi, who also manages the Marlborough equity and bond income fund of funds, will run the combined fund.

As a result of the merger, the option to invest in in- come units, available on the active managed fund, will be withdrawn. This means that only accumulation units will be available from hereonin.

It also reflects the lower level of interest in income units and the merged fund’s objective of capital growth rather than income.

Marlborough says it has several fund launches in the pipeline but these will be single-manager portfolios.

Marlbrough head of marketing Wayne Green says: “The income-only units on the active managed fund date back to when the fund was managed by a third party but when Marlborough took on the management, this did not change.

“The merged fund will be managed for capital growth, so it does not need income units, but we are keeping the income units on the equity and bond income fund.”


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