With these changes, the annual management charges and the ongoing charges figures of the funds have been reduced, with most of the range now capped at a competitive OCF of between 0.60 and 0.65 per cent, the firm said in a statement.

The following funds names will change to align them with the Universal brand:

-- CT MM Lifestyle 3 Fund will become the CT Multi-Manager Universal Defensive Fund with a typical equity valuation of between 10 and 50 per cent.

-- CT MM Lifestyle 4 Fund will become the CT Multi-Manager Universal Cautious Fund with a typical equity valuation of between 20 and 60 per cent.

-- CT MM Lifestyle 5 Fund will become the CT Multi-Manager Universal Balanced Fund with a typical equity valuation of between 30 and 70 per cent.

-- CT MM Lifestyle 6 Fund will become the CT Multi-Manager Universal Growth Fund with a typical equity valuation of between 40 and 80 per cent.

-- CT MM Lifestyle 7 Fund will become the CT Multi-Manager Universal Adventurous Fund with a typical equity valuation of between 60 and 100 per cent.

The equity allocations, shown in the five funds above, reflect the typical exposure associated with each fund’s target volatility range and risk profile.

“We believe these changes will deliver enhanced value to our clients.” Mike O’Toole, head of UK Wholesale at Columbia Threadneedle Investments, said. “By aligning behind our proprietary Strategic Asset Allocation model, which already drives the successful CT Universal MAP and CT Sustainable Universal MAP ranges, the funds are better positioned to drive value for clients seeking a whole of market risk managed solution.”

“Bringing the funds under the CT Universal brand and asset allocation process adds a new competitively priced whole of market solution to our investment offering for clients.” Paul Niven, head of Multi-Asset Solutions, EMEA, at Columbia Threadneedle Investments, added.

The changes do not impact the way the funds manage their risk profiles. The aim of the changes is to enhance the outcomes that investors can expect to achieve. The funds will still be managed by the Columbia Threadneedle Multi-Manager team led by Paul Green.