Edinburgh Portfolio converts funds of funds unit trusts to Oeic

Edinburgh Portfolio has converted its range of funds of funds unit trusts, eleven in total, to a UK umbrella Oeic. The group claims to be the first UK investment house to do this since it was permitted by recent UK legislation change. The group says the move is the most efficient, cost effective and transparent option available for investors. Paul Talbot, Managing Director of Edinburgh Portfolio commented: "It is a travesty that funds of funds have not been admissible for Oeic conversion until now. We are delighted to see that the regulators have brought into line the rules for fu...