The Schroders and Cazenove multi-manager fund range is to be merged in a move that will see the total number of funds reduced from 10 to six, with the team headed by Marcus Brookes.

The move is 'part of the continued integration of the two firms,' following Schroders' acquisition of Cazenove Capital last summer.

The seven funds in the Cazenove range will be rebranded under the Schroders banner on March 24 and moved onto its administration platform. 

The funds will be renamed with the prefix Schroder MM. For example the flagship £1.3 billion Cazenove Multi-Manager Diversity fund will be renamed as the Schroder MM Diversity fund. In the second quarter, subject to regulatory approval, the newly-named range will be combined with the three existing Schroders multi-manager funds. 

Additionally, the Managed Portfolio fund, originally part of the Cazenove range, will be merged into the Diversity Balanced fund, bringing the Schroder's multi-manager range down from 10 funds to six. 

The combined funds will be run by the Cazenove multi-manager team of Marcus Brookes, Robin McDonald and Joe Le Jehan, with Brookes and McDonald named on the factsheets.

Iain Cunningham, who has managed the merged Schroder funds for less than 12 months, will stay at the firm as a portfolio manager within the global multi-asset investments and portfolio solutions team. He will remain co-manager of Schroder ISF Global Multi-Asset Income.

Six of the seven funds in the £2.5 billion Cazenove Multi-manager range are top quartile over three years or since launch. The three funds in the existing £121 million Schroders multi-manager range are all in the bottom quartile of their lipper benchmark in the three years to January 27.

Robin Stoakley, Schroders' managing director of UK Intermediary said: 'There are a number of leading multi-managers operating in the adviser space. I believe we now have the team, the brand, the funds, the performance and the distribution reach to become the preeminent offering in the UK adviser space.'