Friends Ivory & Sime (FIS) is to convert 25 Friends Provident unit trusts into an Oeic and merge fiv...
Friends Ivory & Sime (FIS) is to convert 25 Friends Provident unit trusts into an Oeic and merge five of the existing funds.
The proposed conversion, subject to unitholder approval, would see the Equity Trust, UK Focus Trust and UK Growth Trust, all of which are managed by Tim Hurst, rolled into a single equity UK Equity Fund. In addition the Asian Growth Trust, managed by Lee Vincent, and Australian Trust, run by David Wong, will convert into an Asian Equity Fund, if the proposals are voted through by unitholders. A series of unitholder meetings will take place on Monday 12 August at FIS's office at 100 Wood Street London.
William Russell, director head of marketing at FIS, said: 'The proposed conversions are an important step in the development and rationalisation of FIS's product range. Our clients are set to benefit from the simplicity, transparency and flexibility that Oeic structures provide.'
For more information contact the FIS helpline on 0870 600 6300.
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