Premier’s latest fund merger creates £124m UK fund

Premier Asset Management is to merge its UK Mid 250 and UK Growth funds in the latest part of its product overhaul.

Both products are run by head of UK equities Chris White, although they had been run by Simon King before his departure from the business in July last year.

The resulting fund will be roughly £124m in size and will continue to be called the Premier UK Growth fund. The merger is subject to approval by investors.

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Simon Wilson, marketing director at Premier, said the product would be a “multi-cap, best ideas fund” in line with the group’s stated aim of offering “relevant investment solutions that offer good outcomes to our clients”.

The move follows a series of fund mergers and manager departures last year as Premier overhauled its product range. The group merged away six funds last year, while Mr King, Chinese equities manager Fen Sung and chief investment officer Mike Jennings all left.