Fidelity Worldwide Investment is planning to merge its £209 million Fidelity International fund into the £9 million Fidelity Open World fund.
Following the approval by investors, the merger and transfer of existing assets to the new fund will occur in November.
The consolidation will provide better opportunities for investors compared to the International fund, which has a strong bias towards Europe and developed markets. The Open World fund invests in a wide range of global assets.
Both the funds are currently managed by Ayesha Akbar.
Upon completion of the merger, Akbar will serve as the lead manager of the new merged fund alongside James Bateman, who will co-manage the fund.
Meanwhile, Nick Peters, co-manager on the International fund, will not be concerned with the Open World fund and will focus on his other multi-asset funds.
Additionally, Fidelity said that the investment process adopted is not expected to change as a result of this merger.
A Fidelity spokesman said: "As a fund investing in other funds, the Fidelity Open World fund provides a structure that we believe offers greater investment opportunities and prospects for positive investment outcomes, along with the additional benefit of input from third party investment managers.
"The risk profile is not expected to change as a result of this merger, and it will continue to be managed by Ayesha Akbar with the same investment process and philosophy building on the wider Fidelity Solutions resources, "he added.