Brompton Asset Management has acquired WAY Group's £148m Global fund range.
The three funds, including the £52m WAY Global Red Portfolio, the £37m Global Blue Portfolio and the £59m Global Cautious Portfolio, will be managed by Brompton's multi-asset class team led by chief investment officer Gill Lakin.
Lakin said: "We are delighted we have been given the opportunity to manage money on behalf of investors in the WAY Global fund range.
"As manager of the three funds, we aim to produce healthy risk-adjusted returns for investors while maintaining the nil-yield mandate and to satisfy the requirements of their advisers for efficient service."
The funds' key structures and investment objectives will remain unchanged.
WAY Group chairman Paul Wilcox said: "The fund range was originally developed to complement WAY's trust solutions using a fund-of-funds structure to preserve the trustees' capital gains tax allowance, running a nil-yield mandate to avoid inconvenient distributions to trust beneficiaries.
"We believe this new arrangement is an excellent deal for our many IHT clients who will get the best of both worlds."
The funds will remain core investments for WAY Group's inheritance tax mitigation solutions.
Oversees £30bn of advised and D2C assets
£1bn business since inception
Considered doing so in 2015
Client communication considerations
Aviva: ‘We are sorry’