Aegon Asset Management has completed the merger of its UK Blue Chip portfolio into its UK Growth fun...
Aegon Asset Management has completed the merger of its UK Blue Chip portfolio into its UK Growth fund, with Steven Laidlaw managing the combined portfolio as of 12 April.
Aegon received unit holder approval for the merger of the funds, which have combined assets of £300m, earlier this month and plans to use the UK Growth track record going forward.
In addition to the fund change, Aegon has completed the final part of its restructuring with the creation of a dedicated research team, working on a sectoral basis.
This replaces the previous system where research was carried out by individual equity desks.
The group believes the set-up will eliminate overlap that occurred when research was done on a geographic basis.
The team will be run by Alistair Byrne, who is also to be made head of equity research. He will report to Wendy Hay, chief investment officer at the group.
There will be five heads of different sectoral desks: Susan Boyds is to be head of financials, Carol Clark is to be head of defensives, David Griffiths is to focus on tech, media and telecoms, John Smelt on resources and Dennis Wyles on cyclicals.
Aegon has also received approval from unit holders to have its US Smaller Companies fund rolled into the group's retail Oeic. It previously had cross-holdings in other funds, which prevented it from being held under the Oeic.
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