Jupiter plans to merge its £28m Global Technology fund into its £182m Global Managed fund.
The merger is subject to unitholder approval and the group will send out a circular to unitholders later this month.
If approved, the merger will be effective from April 24. John Chatfeild Roberts, the head of multi-manager at Jupiter, will continue to manage Global Managed, while Sebastian Radcliffe, the manager of Global Technology, will now run only the Jupiter North American Income fund.
According to Jupiter, the merger is “in the best interests of unitholders” given the economic environment. The group says that global economic growth will be “anaemic”, so unitholders will fare better in a broader-based fund.