Smith & Williamson Investment Management has merged its UK Growth fund and its Opportunities fund into the group's UK Equity Growth trust.
The £13m Growth fund and the £16m Opportunities fund were both run by Mark Boucher, who also runs the group's UK Equity Growth trust.
Following the move, the UK Equity Growth trust now has assets of £40m.
The consolidation comes amid a drive across the asset management sector to cut costs and remove sub-scale funds.
"As a result of this consolidation, we now have one long-only UK equity growth fund, of a decent size, with potential to grow," Boucher said.
The remaining fund has returned 27.1% to investors over the last year, versus a sector average gain of 26.6%.
Over three years, it has delivered 28% versus the sector average of 38.4%.
Boucher said the trust is currently positioned to take advantage of the recovery in UK GDP.
"It is overweight in house builders and other housing-related stocks as well as other sectors that should benefit from growing consumer confidence," he said.
"It is mainly invested in large-caps, but currently has around 30% in mid-caps and 5% in small-caps. The fund holds approximately 60 stocks."
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