UK-based Sinfonia Asset Management, part of the Tenet Group, has axed its three-strong regional sales team and will no longer promote its funds externally, a spokesperson for the company has confirmed.

The regional sales managers have been made redundant and Sinfonia will from now promote its funds through the parent company. This leaves one person responsible for field-based sales, supported by two head office sales staff at Sinfonia.

The shake-up follows a strategic review initiated by Helen Turner, who joined as director in February this year.

Sinfonia, which celebrated its third anniversary in June, had about £80 million (about $128 million) in client assets in August.