Legal & General Investment Management is planning to merge two income offerings into its £53m Managed Monthly Income fund, run by Michel Canoy.
The group is proposing to merge the L&G Barclays Monthly Income trust and the L&G Monthly Income trust into the Managed Monthly Income fund in January, subject to shareholder approval. LGIM said it is undergoing a streamlining process in which it is looking to merge some of its smaller propositions into funds with a similar investment objective. In April Simon Ellis (pictured), managing director of Legal & General Investments' unit trust business, told Investment Week he was looking to tidy up a number of smaller funds in the range, merging them into larger existing offerings over the...
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