AXA Investment Managers' £827.3m Equity Income fund will be moved and reconfigured into a new fund under the AXA Framlington brand as part of the group's UK rationalisation plans.
The Stephanie Walsh-managed vehicle will now be known as the AXA Framlington Blue Chip Equity Income fund.
AXA IM also plans to merge its UK Growth fund into the AXA Framlington UK Growth fund and move its UK Opportunities fund to a newly created AXA Framlington Mid Cap Opportunities fund.
Furthermore, the AXA Ethical fund will be shifted into a new Ethical Distribution fund. All moves are subject to FSA and shareholder approval.
Framlington’s Jamie Hooper will run the merged UK Growth vehicle, with Alex Lloyd staying on at the firm to continue leading the £142.9m AXA General fund.
Last month, the company completed the AXA Cautious Managed fund’s shift to the AXA Defensive Distribution fund.
AXA IM says all the moves will create increased simplicity and transparency for investors.
"We are committed to providing clarity and ease of understanding around our offering and to demonstrating the benefits of our multi-expert model for investors,” UK retail sales head Rob Bailey says.
“At a time when transparency and simplicity around financial products is of paramount importance, this has never been more pertinent to our clients.”
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