The Scottish Amicable brand is disappearing in a reorganisation by owners,Prudential. They are to merge several of their funds, and get rid of three others, leaving just 23 funds remaining.
Nine unit trusts are simply being renamed. Several external managers such as Merrill Lynch and Schroders will lose their mandates, as funds run by these companies are taken in-house.
Prudential, who took over Scottish Amicable in 1997 in a £2.87 billion deal, insist that these changes were made on a fund-by-fund basis, rather than a desire to cut external links.
Our view
Inevitable, as with any merger or acquisition, you cannot run two or three brands. People now understand who manages their money and now is the time to lay to rest another famous brand.