Prudential is set to merge its Income trust into the M&G Dividend fund as part of a wider range of fund consolidations, creating a £1bn portfolio.
The merger will see the £563m Equity Income trust come under the remit of Alex Odd (pictured), manager of the £497m Dividend fund.
Prudential's UK Growth trust is also set to merge into M&G's £482m UK Growth fund, run by Garfield Kiff.
As part of the consolidation, the £96m Prudential International Growth trust is also set to merge into Greg Aldridge's £855m M&G Global Growth fund, while the £183m Prudential Distribution trust will become part of Steven Andrew's £14m M&G Income Multi Asset fund.
The group is also planning to merge the £18m Prudential Japanese trust with the £35m M&G Japan fund, run by Dean Cashman.
The mergers are subject to unitholder approval, with a vote scheduled for September.
If approved, the mergers will take place in October.
The group said the integration will result in lower costs for investors, with the 4.75% initial charge on the Prudential funds falling to the 4% charged on M&G's offerings.
"This integration is part of our commitment to regularly review our fund and product ranges, with the aim of providing investors with superior long term investment performance," said the group.
Back in June Investment Week revealed Prudential merged five of its funds into M&G's range, in a move which saw bond star Richard Woolnough's Corporate Bond fund swell to nearly £5bn.
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