F&C has made changes to its multi-manager products, which includes the introduction of an equity income fund.

Two of the investment plans, which work by investing clients’ money into funds such as units trusts, now all hold positions in the Axa Framlington Equity Income fund.

Paul Carne, manager of the Multi Manager Distribution and Multi Manager Cautious funds, said he has bought units in Axa Framlington’s fund as part of a tactical move.

He said: “We believe the Axa Framlington Equity Income fund is well-suited to the risk exposure we are seeking.”

BlackRock’s UK Special Situations and the Rensburg Select Growth funds have been added to all F&C’s multi-manager portfolios.

Meanwhile the firm has reduced holdings in the Artemis Income and Threadneedle UK Equity Income Alpha funds and ditched units in Rensburg UK Equity Income from two of the multi-manager funds.