Isis to merge two funds of funds

Professional Adviser
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Isis Asset Management is planning to merge two of its funds of funds later this year, while a n...

Isis Asset Management is planning to merge two of its funds of funds later this year, while a new portfolio risk model is being adopted to take account of continuing market volatility. The Friends Provident Managed Portfolio and Isis Managed Growth Trust are both fettered funds of funds in the balanced managed sector, run by Richard Philbin. William Russell, head of marketing at Isis, said it would be a logical move to merge the portfolios, subject to FSA approval and the agreement of investors. The merger is likely to take place in August. 'There is seemingly no rationale for havi...

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