View more on these topics

GLG overhauls UK and fixed-interest funds

GLG has proposed a series of mergers and closures across a number of its UK and fixed-interest funds.

The group, which acquired SocGen Asset Management in April, plans to merge the £47.9m UK active 350 fund into the £95.1m UK growth fund.

It is also merging the £53.2m UK special opportunities fund into the UK select fund, a new offering that GLG intends to launch at the end of July. It has also proposed the closure of its £17.9m UK smaller companies fund.

GLG last month appointed John White and Jason MacKay to manage the five UK funds inherited from the SGAM deal. The funds are worth a total of £250m.

White and MacKay currently run the GLG alpha select fund and the group is planning to launch a Ucits III version of the fund. The pair run an offshore version of the UK select equity fund.

GLG also intends to close the £7.8m corporate bond fund to new investment from September 1 as well as changing the name of the international bond fund to the international corporate bond fund.

Hargreaves Lansdown senior analyst Meera Patel says: “You expect rationalisation on the back of mergers and there are too many funds in the investment universe already.”

Recommended

A matter of trust

As advisers, we all spend time with clients helping them establish their attitudes to risk and educating them to the potential ramifications of this for long-term investment performance. Somewhat ironically, risk management processes and procedures should also be front of mind now for advisers themselves, ensuring the correct procedures are taken to reduce risk in their businesses.

Bonds in 2017: Stick or twist?

Royal London Asset Management Bond Fund Managers Paola Binns and Craig Inches look at why short duration could be a key tactic for fixed income investors during 2017. Read the full article here The value of investments and the income from them is not guaranteed and may go down as well as up and investors […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment