By Elliot Gulliver-Needham The Phoenix-run Aurora Investment Trust has proposed a takeover of the Artemis Alpha Trust, which would see the two trusts merge to combine £353m of assets. The £123.7m Artemis trust and the £198.6m Aurora trust are around 25 years old. The new trust will be named the Aurora Alpha Trust if the merger is completed. The deal would see Aurora’s board remain unchanged, along with its investment objective and management by Phoenix. However, the lead manager of Artemis Alpha has agreed to join Phoenix’s investment management team later this year. Artemis shareholders would…