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Fleming to alter name as it adds six funds

Fleming Asset Management is to rebrand as Chase Fleming Asset Management after its acquisition by Chase Manhattan later this summer.

The $7.7bn deal, approved by Fleming shareholders last month, will create one of the biggest global fund managers, with funds under management of around $330bn.

The funds will keep the Fleming name, with its Hong Kong-based funds retaining the Jardine Fleming brand.

Fleming has completed the launch of a new range of offshore funds. Six funds, domiciled in Luxemburg, are now authorised for distribution in 13 European countries, including the UK.

The German opportunities fund, the global smaller companies fund and the Pacific technology fund have all been approved for launch in the UK, with the official launch in Paris this week.

The global life sciences fund, the European strategic value fund and the European strategic growth fund have already launched in the UK.

Fleming says it wants each of the new funds to attract more than £1bn under management in the next few years.

Fleming fund management chairwoman Colette Bowe says: “This gives IFAs the chance to get their clients into funds that are riding the wave of innovation globally.”

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