Old Mutual to convert unit trusts to OEICs

According to Old Mutual, the firm wished to convert all unit trusts to OEICs so they could have a purely OIEC range because it felt the structure was more modern and flexible and also allows dual pricing. While converting to OEICs, Old Mutual has also proposed merging a number of funds to help improve efficiency and tidy up the fund range. In a statement to shareholders, Old Mutual says: "The Old Mutual fund range comprises both unit trusts and Oeic funds, and we believe it would be beneficial to convert all our funds to Oeics. "We would also like to take this opportunity to make some...