Old Mutual plans fund-to-OEIC switch across range

The company has sent a letter to shareholders informing them of the proposals, which if passed, will also see all its funds adopt UCITS III powers. In a further alteration, Old Mutual Asset Management (OMAM) is merging a number of funds, with the Worldwide Select Equity and Global Technology offerings being consumed by the Global Equity fund. The North American products are also undergoing changes, with US Select Equity merging into the North American Equity vehicle. The company’s UK range is being similarly overhauled, with the £26m UK Equity and £21m UK Select Large Cap funds bei...