Investec Guinness Flight is overhauling the Guernsey-based Global Strategy and International Accumula...
The fund ranges, as well as many of their sub-funds, will be renamed. More importantly, there will be a substantial amount of fund merger.
If proposals are voted through at the extraordinary general meeting to be held in Guernsey on 2 June, the Guinness Flight Global Strategy fund will be renamed the Investec Global Strategy fund.
Within this range, the Emerging Currency fund will be merged into the Managed Currency fund. The Asian Pacific Currency and Bond fund will be merged with the Global High Income Bond fund.
The American Smaller Companies fund will be merged with the American Blue Chip fund, the Asian Smaller Companies fund will be merged into the Asia New Economy fund and the Japan Smaller Companies fund will merge into the Japan fund.
In a similar vein, the Global Smaller Companies fund will merge with the Global Equity fund.
Furthermore, on a 'yes' vote on 2 June, the International Accumulation fund range will be renamed the Investec International Accumulation fund.
Investec propose that the Swiss Franc Money fund be merged into the Euro Money fund. Also, all high yield funds will be merged together into the Global Bond fund, previously called the International Prime Bond fund.
Shareholders can instead choose to move their assets over into the equivalent fund in the Global Strategy fund range. However, if investors decide to transfer from one vehicle to the other, it will count as a disposal of their assets for UK tax purposes.
Meanwhile, the International Balanced Growth fund will change its name into the Global Balanced fund, the International Equity fund will become the Global Growth fund and the European Equity fund will become the Pan-European fund.
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