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BAT looks at selling parts of Eagle Star

Templeton will convert its three unit trusts into Oeics next month after unitholders agreed to the change.

In a vote on March 11, more than 95 per cent of unitholders present supported the conversion, which will be completed formally on April 6.

The three funds involved are the £42.5m global growth trust, the £5.4m value trust and the £3.2m global balanced trust.

Templeton European chief executive Dickson Anderson claims Oeics are the most suitable and flexible structure for the future of the UK fund industry.

Charges on the three funds will be unchanged at 5 per cent initial plus 1.5 per cent annual.

Shareholders will be able to switch between the funds free of charge.

UK marketing manager Jim Sharp says Templeton is planning to launch more funds later this year but declines to give details.


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