River and Mercantile eyes merger of two underperforming funds

As of 30 April, the funds have £4.4m and £148.5m assets under management respectively and have been underperforming compared to their benchmark. R&M said combining the two funds will unlock economies of scale for investors, as well as reduce costs associated with the management of a larger pool of assets. Martin Gilbert's AssetCo rebrands three subsidiaries to River & Mercantile The move will need to be voted by shareholders as an extraordinary resolution at the company's EGM on 21 June. If passed, the merger will become effective from 23 June. The company said the two funds wer...