Frank Russell, the multi-manager specialist, has inserted Threadneedle Asset Management and SVM Asset Management into its UK equity product.

The £1bn (€1.6bn) fund now uses seven investment management firms. The others are GMO Woolley, Capital International, Schroders, Barclays Global Investors and Fidelity Investments. The restructuring has led to the termination of Glasgow Investment Managers. Colin McLean's SVM replaces Glasgow's team, headed by Iain Lynn, as the fund's growth manager.