Momentum Global Investment Management (MGIM) is rebranding five of its funds, following the acquisition of Seneca Investment Managers (Seneca) last year.

The move will bring two of Seneca’s funds and three of MGIM’s existing funds together under new names to form a range of diversified multi-asset products for the UK adviser market. The re-brand does not change the investment objectives of the funds.

The five products will now be unified under the VT Momentum Diversified wrapper.

The rebranding of Seneca’s two strategies, the VT Seneca Diversified Income fund and VT Seneca Diversified Growth fund, is effective 6 April. The Seneca Diversified Income Fund will be renamed as the VT Momentum Diversified Income fund, while the Seneca Diversified Growth fund will become the VT Momentum Diversified Growth Fund.

Meanwhile, MGIM’s Focus 3, Focus 4 and Focus 5 multi-asset funds will be rebranded on 28 May. MI Momentum Focus 3 will be retitled as the VT Momentum Cautious fund, and the MI Momentum Focus 4 fund and the MI Momentum Focus 5 fund will become the VT Momentum Diversified Balance fund and the VT Momentum Diversified Moderate fund respectively.

The arrangement follows the announced change for the Seneca Global Income & Growth Trust, which will become the Momentum Multi-Asset Value Trust (MAVT) later this month.

All five funds are highly diversified portfolios investing in a wide range of global asset classes such as equities (both directly in the UK and selected third party managers overseas), fixed income, cash, property, and alternative strategies. The consolidated MGIM and Seneca investment teams will feed into all five funds, enhancing the investment resources for the portfolios..

Commenting on the process, Ferdi van Heerden, chief executive, Momentum Global Investment Management, said: “We have made great progress with the integration of Seneca into MGIM. This has ensured a combined business with a far broader and richer talent pool, all focussed on delivering target outcomes for clients. The Seneca and the Momentum Focus funds are very complementary and by fully integrating them into one Momentum branded range, this creates a comprehensive selection of risk rated multi-asset products designed to suit the needs of a whole spectrum of clients, either as their core investment holding, or at the very least a key addition to their existing portfolios.

Outlining the thinking behind the decision, he added: “This is much more than just a cosmetic change. The enlarged investment team has been able to take their best ideas and deploy them across the integrated fund range. Going forward, investors should benefit from the output of this larger multi asset focussed team as their research depth and idea generation feeds into all of these solutions.”