Schroders intends to streamline its UK equity fund range by merging the UK Select Growth fund into its UK Equity fund.

Schroders is in the process of writing to unit holders to outline its proposals. Schroders said it made sense to merge the portfolios given the similarities in their investment process.

Robin Stoakley, managing director of Schroders’ UK retail business, told financial publication Citywire: 'The UK Select Growth fund has not got a great performance record and its investment objective is similar to the UK Equity fund. Simon Brazier has delivered better risk adjusted performance so we believed it to be in the best interest of unit holders to merge the funds.' 

More information on the proposed fund merger will be issued to investors shortly.