M&G is merging its Global Leaders fund into the Global Themes fund in the wake of a review resulting from fund manager Aled Smith’s decision to step down.
The proposed merger has been approved by the regulator but is still subject to approval from shareholders.
The Global Themes fund will continue to be managed by Jamie Horvat who has been in charge of the fund since December 2015.
M&G announced in November that Smith was stepping down from his role of manager of the Global Leaders fund in April after 17 years at the firm.
M&G equity, multi-asset and retail fixed interest chief investment officer Graham Mason says: “Jamie has done an excellent job since he began managing the M&G Global Themes Fund and the recent changes enable him to fully capture current and future trends.
“Our intention through this merger is for our customers currently invested in the M&G Global Leaders Fund to be able to benefit from his skills and expertise.”
The merger is expected to take place on 25 May, subject to approval from shareholders.