LV Asset Management said it expects to see some staff redundancies as it finalises its deal to outsource the management of its funds to Threadneedle.

All the LVAM funds will remain in their current structures and stay segregated when they transfer across to Threadneedle on 31 October, regardless of overlap with its own fund range, LV said.

Threadneedle will then decide how the final fund offering will look, including merging away products where there are similarities.