Clerical Medical is to convert to Oeics

Clerical Medical will switch its entire retail unit trust range into Oeics in the first quarter of 2000, writes Kira Nickerson. The exact share class structure of the Oeic has not been decided but the group is looking at a share class range that will offer flexibility to institutional investors and retail customers. The group will also be making changes to the annual management charges of its overseas funds. This follows its decision to run these funds, with assets of £180m, in house. Fidelity has been managing them since 1984, although in the past few years the two have shared fund ma...