Merrill Lynch Investment Management (MLIM) is to alter the names and stated objectives of three unit...
Merrill Lynch Investment Management (MLIM) is to alter the names and stated objectives of three unit trusts and change the name of a fourth, while leaving its stated objective intact, writes Robert Stock.
Unit-holders in the Merrill Lynch International Opportunities fund are to receive letters next month informing them the name is to change to Merrill Lynch Global Equity.
The change is timetabled for 10 September and the fund's revised objective statement will inform investors of the ability the manager already has to invest in fixed-interest securities at times when it is deemed necessary to defend the value of the fund.
At the same time, the Merrill Lynch New Europe fund is to become the Merrill Lynch European fund on 1 October and will be announced to investors in the manager's report at the end of the month.
As with the change of stated objective for the International Opportunities fund, its new stated objective will also make clear that the manager may, where applicable, invest in government and corporate fixed-interest securities.
Also on 1 October, the Merrill Lynch European Growth fund is to become the Merrill Lynch Continental European fund. The change will be highlighted in the managers report of 25 September.
The Merrill Lynch Income fund will also be renamed on 1 October, becoming the Merrill Lynch UK Income fund. However, there will be no change of mandate.
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