Collins Stewart merges two focus funds
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By Amanda Newman
Collins Stewart Fund Management believes its Dublin-based continental Europe focus fund will be more attractive to fund of fund managers after its merger with the Guernsey-domiciled European equity focus fund.
The closure of the Guernsey fund and transfer of its assets to the Dublin fund has created a bigger portfolio which Collins Stewart believes will be more useful to managers than two smaller, virtually identical portfolios in different jurisdictions.
It will also be more efficient for the company to manage a single portfolio. The merged fund will a continue to be run on a best ideas basis by Rod Sleath, who joined Collins Stewart in 2001. The merged fund will contain around 30 stocks and will have no geographical or sector restraints. But Collins Stewart believes this will not make it difficult for fund of fund managers to assess the fund's risk profile in relation to their other holdings.Sleath says: "We are pleased with the way the merger has gone. We did not lose any money in merging the funds. Overall, it was a very smooth process."If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
