17th Mar 2009 12:00
17 March 2009
Rathbone Brothers Plc: proposed restructuring of the fund range offered by Rathbone Unit Trust Management
Rathbone Unit Trust Management announces a proposed restructuring of its funds to ensure a better alignment with current market needs and enable the business to take advantage of any improvement in market conditions when they arise.
The following proposals are subject to FSA and unit-holder approval:
Rathbone Blue Chip Income and Growth Fund
Rathbone High Income Fund to merge into Rathbone Blue Chip Income and Growth Fund (formerly known as Rathbone Income and Growth Fund). Julian Chillingworth, Rathbone Unit Trust Management's chief investment officer, will continue as the manager
Rathbone Recovery Fund
Rathbone Special Situations Fund to merge into the Rathbone Smaller Companies Fund, which in turn is to be relaunched as the Rathbone Recovery Fund. Julian Chillingworth and Marina Bond, currently manager of the Rathbone Smaller Companies Fund, will become joint managers of the new fund. The revised objective of the fund will be to invest in companies where the recovery potential is not currently appreciated by the market and those companies experiencing issues expected to have a temporary impact on value.
In the interests of treating clients fairly, Rathbone Special Situations Fund and Rathbone Smaller Companies Fund unit-holders will be offered the option of receiving units in the Rathbone Blue Chip Income and Growth Fund for those seeking income and prospects for capital growth
Subject to HMRC clearance, none of the above changes will trigger a liability to capital gains tax for unit-holders.
Ends
For further information contact:
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Rathbone Brothers Plc
Tel: 020 7399 0000
email: [email protected]
Andy Pomfret, Chief Executive
Emily Morris, Marketing Director
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Brunswick Group LLP
Tel: 020 7404 5959
Kate Holgate/Claire Gore
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Notes for editors:
Rathbone Brothers Plc
Rathbone Brothers Plc ("Rathbones") specialises in providing, through its subsidiaries, high-quality, personalised investment management and wealth management services for private investors and trustees, including discretionary fund management, unit trusts, tax planning, trust and company management, pension and banking services.
Headquartered in London, Rathbones has offices in Birmingham, Bristol, Cambridge, Chichester, Edinburgh, Exeter, Jersey, Kendal, Liverpool, London and Winchester.
Rathbones manages around £10.5 billion of funds including £1 billion managed by Rathbone Unit Trusts (as at 31 December 2008).
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