The changes which are subject to FSA and unitholder approval are designed to rationalise the number of retail funds being managed by the firm.
Rathbones is also looking to merge its special situations fund into its smaller companies fund and with a revised objective, will relaunch this as a recovery fund.
Smaller companies fund manager Marina Bond, will co-manage the new recovery fund alongside Julian Chillingworth.
The firm will look to offer unitholders in both the special situations fund and smaller companies recovery fund the option of receiving units in the blue chip income and growth fund.
Yarrow joined Rathbones in September 2002, was appointed co-manager of the high income fund alongside Carl Stick and Julian Chillingworth in May 2006 and became lead manager in April last year. He also co-manages institutional income mandates with Stick, who continues to manage the firm’s income fund.
Head of marketing David Holloway says: “Market conditions have prompted us to review and streamline our range of products and launch a new initiative appropriate for business conditions and in anticipation of future demand. Now is the time for positive action and out of it will come products that are well-positioned to provide our clients with suitable UK equity investments for the future.”