F&C Asset Management has switched its holding in the Thames River Japan fund within its multi-manager balanced fund and reduced its exposure in the F&C multi-manager growth fund. The position has been reinvested in the Morant Wright Japan fund. The UK fund manager said the move was prompted by a strategic shift in the portfolios, increasing its bias towards small and mid-cap deep value and away from the large-cap Japanese stocks.

Cheshire hires Mellon for £50m