There will be redundancies at Merian Global Investors should the proposed acquisition by Jupiter get the go ahead from the regulator, a spokesperson has told Financial Planning Today.

Shareholders in fund manager Jupiter have voted to approve the takeover of rival Merian at the company’s AGM this week.

Jupiter saw a net fund outflow of £2.3bn in Q1 as investors shifted money elsewhere.

Fund manager Jupiter, which recently announced plans to buy rival Merian, has reported an 11% decline in annual pre-tax profits to £162.7m.