Investec Asset Mangement is merging its Dublin-domiciled business into its UK OEIC business this autumn as part of a culling process designed to increase economies of scale.
Chiefly affected will be the $815m Select Fund umbrella, which will merge into the UK OEIC range by October this year, subject to shareholder approval.
That shift will funds under management in the UK OEIC to £1.6bn, up from £300m five years ago, the company says.
Economies of scale and technical differences are forecast to lower total expense ratios for investors affected.
Because the changes will shift investors into sterling denominated products, Invested is promising a currency service that will enable investors to redeem units or receive income in US dollars, euros or sterling.
The changes are as follows:
|Select Funds (Dublin Domiciled ICVC)||Merges into||Investec Fund (UK domiciled OEIC)||Fund manager|
|Global Bond fund||…||Global Bond fund*||Keiron Nutbrown|
|Global Equity fund||…||Glboal Equity fund*||Adrian Brass|
|Pan-European Equity fund||…||Pan-European Equity fund*||Albert Morillo|
|Global Technology fund||…||Global Technology fund*||Pauline Nepgen|
|WirelessWorld fund||…||Global Technology fund*||Pauline Nepgen|
|Greater China fund||…||Hong Kong & China fund||Mark Breedon|
Fidelity Multi Asset CIO's outlook
Willis Owen report
From 1 March
Fears ahead of end of QE
CEO of TeamBlockchain