Chris Murphy, UK fund manager at Framlington, is to transfer to the Axa Investment Managers side of the business, as manager of Axa UK Growth fund.
Currently Murphy manages the &42m Framlington Blue Chip and &60m Framlington UK Growth funds, which are both expected to merge into Axa's &313m UK Growth fund and be marketed under the Axa Investment Managers brand.
Robert Kyprianou, chief investment officer at the group, said while this is one of the options being considered following the merger, a final decision is likely to be made in coming weeks.
Kyprianou said when looking at the fund ranges between the two companies, areas of overlap include UK growth, UK equity income and bond funds. However, with Axa Framlington's George Luckraft facing capacity issues, two separate ranges are likely to remain within UK equity income.
Axa UK Growth has been a weak performer and did not improve much under Richard Prew, who left the group in January following poor performance. Currently the interim manager on the fund is Stuart Fowler, head of UK equities.
Over three years until 6 February, Axa UK Growth is ranked 232 of 258 funds in the UK All Companies sector, having delivered a return of 71.7%, compared to the sector average of 89.5% on a bid to bid basis, according to Standard & Poor's.
Over one year, the fund is ranked 205 of 287 funds after returning 18.9% compared to a sector average of 21%.
Richard Philbin, fund of funds manager at F&C, said Murphy's investment style focuses on large and mid-cap. This is suited to managing a large pool of money so the combination of the three funds should not have any impact on performance.
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