Deutsche Asset Management (DeAM) has made a number of UK fund managers redundant after closing its London-based North American and Japanese equity fund management operations.

Sources close to the firm said equity mandates for three regions - the UK, continental Europe and 'EAFE' (Europe, Africa and the Far East) - will continue to be managed from London. Global equity mandates, which will remain under the overall leadership of Karl Sternberg, will continue to be managed jointly from London and New York.