Subject to unitholder confirmation, Rensburg unit trusts will be merged with Franklin Templeton Oeics on 17 October.

The move follows Franklin Templeton’s acquisition of Rensburg on 18 January for £45m.

Colin Morton, Paul Spencer, Mark Hall and Stuart Sharp will work as portfolio managers on the new funds.

Ian Wilkins, head of UK distribution at Franklin Templeton, said: “The integration is progressing very well for both Franklin Templeton and Rensburg, we now have a suite of products with a proven track record that complements our existing range with a scalable platform.

“The Rensburg fund managers will continue to enjoy full independence-both the team and the investment process remain unchanged.”

Mr Wilkins said that the acquisition had given Rensburg more support and access to considerable resources.

“Alongside reduced administrative burdens the Rensburg managers now have access to considerable resources from the wider group-including independent risk analysis, along with access to Franklin Templeton’s substantial global distribution team.”

Franklin Templeton has also announced the appointment of Peter Jackson and Kevin Lloyd as business development manager. Mr Jackson joins from Aegon Asset Management while Mr Lloyd joins from Henderson.

Alex Brotherston takes on an expanded role as head of advisory sales and strategic partnerships.