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Henderson is switching to Oeics

Henderson Investors aims to convert most of its unit trusts into Oeic

sub-funds in the autumn.

The AMP-owned firm says the Oeic structure will provide greater

flexibility and clarity than unit trusts. Investors will have access to a

broad range of funds at a single price and be able to switch more easily.

The proposals are subject to unitholder approval. Henderson will be

mailing investors with details in July.

Henderson intends to launch two umbrella Oeics, one for the UK and Europe

and the other for global funds.

Chief investment officer for retail funds Mike Clare says: “The new fund

range will be modern, customer-focused and clear thinking.”

Royal & Sun Alliance Investments has converted seven more unit trusts into

Oeics. The trusts are the FTSE 100 tracker, growth & income, UK smaller

companies, emerging markets, Far East, high-income bond and worldwide bond.

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