"Their roles were directly duplicated."
Fisher said the redundancies had come at a cost but would not say how much that was.
"We have met all the terms and conditions of the contracts. We were aware before we made the purchase what those costs would be."
Fisher said the staff had not been surprised by the changes and many had been grateful that the decision had been made quickly.
"We told the team from day one we would make a quick decision because there is no value to be sitting there with half a job or quarter of a job to do."
Those made redundant were not required to work out their notice periods and were allowed to find work elsewhere in the industry without any delay, she said.
Fisher said the changes meant Tower's Australasian equities and fixed interest portfolios would now be managed by her own team who would be sticking to the mandates of the those funds.
There were around "half a dozen" stock investments which differed between the teams which could be changed over time.
"But we are not in a hurry to do that."
Fisher said Tower's investment clients would still ring through to the same call centre team as before and only those with a personal relationship with the investment managers would notice a difference.
Fisher purchased the Tower investment business for $79 million in February and the deal went unconditional on April 2.