Scottish Widows Investment Partnership has passed on the management of the £280m UK select growth fund and £124m UK opportunities fund to manager James Clunie.
The funds were previously managed by Swip head of UK equities Peter Cockburn. Clunie already runs the £18m UK flexible strategy fund.
Swip refused to comment on whether Cockburn is leaving the firm.
Last week, Scottish Widows Investment Partnership announced it was cutting 23 roles as it moves to reposition its £54bn equities’ business.
It is cutting its investment team of 38 to 15 managers as part of a move to focus on lower-risk strategies. Under the new model, there will no longer be a UK desk and a global team will focus on active strategies alongside a quantitative team, where all rebalancing decisions will be made electronically.