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Shake-up as Artemis and ABN Amro merge

Artemis is combining its fund range and sales structure after getting the green light from the FSA to merge with ABN Amro.

The deal, which was sought by ABN after star fund managers Nigel Tho-mas and George Luckraft joined Framlington, will see Artemis chief executive Mark Tyndall become group chief executive officer and manager of the former ABN UK growth fund previously run by Thomas and now called the ABN/ Artemis UK growth fund.

The Artemis UK growth fund will be taken over by Adrian Paterson, who ret-urns from a one-year sabbatical after resigning from Jupiter. Tyndall will help Paterson manage this fund.

Luckraft&#39s former funds, UK equity income and high income, will be managed by Artemis fund manager Adrian Frost.

Further developments include Artemis managing director Jamie Campbell becoming director of retail strategy while ABN managing director of unit trusts Richard Tur-pin retains his position for the combined business.

Despite the integration, Art-emis says the fund ranges will continue to be managed in tandem until the combined company – which has around £2bn of assets under management – can move to a common administration platform.

Tyndall says: “Having spent time with the ABN and Artemis teams in the past few weeks, I am convinced that this is a very good outcome for IFAs and investors.”

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