SEAM Oeic conversion

Scottish Equitable Asset Management (SEAM) is converting its European Smaller Companies unit trust into an Oeic, adding an Isa wrapper and cutting its minimum investment level. Until now investors have had to put in at least £15,000 into the fund but this is being reduced to £500. The fund, which has been managed by Alistair Duffy since 1999, will also be available for Pep transfers. It has an initial charge of 5.5% and there is an annual management fee of 1.25%. Standard initial IFA commission is 3% and renewal commission rates are negotiable. The minimum regular investment in the fund...