Investec Guinness Flight are offering shareholders of the Mercury European Privatisation Investment Trust the opportunity to continue investing in privatisations by switching to its own unit trust.
Mepit is set to undergo a major reconstruction, if proposals are given the go-ahead at its annual general meeting on June 29. These changes will see the trust refocus its investment strategy on general continental European equities instead of privatisations.
But if shareholders wish to continue their investment on a privatisation theme, Investec Guinness Flight will allow them to switch to its Global Privatisation Trust without incurring any front end charges.
Investec Guinness Flight privatisation fund manager Jeremy Podger says: "In contrast to the board of Mepit, we continue to believe that there is lots of scope to achieve superior performance from a portfolio dedicated to investment in privatisations."