View more on these topics

Neptune to merge and rename UK funds

The-Mortgage-Mole-700x450.jpg

Neptune Investment Management is merging its UK Equity and UK Special Situations funds following the departure of fund manager Alex Breese to Schroders.

Managed by Scott MacLennan, the £19m Neptune UK Equity fund is being merged into the £33m Neptune UK Special Situations fund, formerly managed by Breese

Breese departed in April 2013, joining Schroders to replace the outgoing Richard Buxton and Errol Francis.

Following this change, the UK Special Situations fund will be renamed as the Neptune UK Opportunities fund.

A Neptune spokesman says: “The proposed merger would help Neptune to make use of the economies of scale that a combined entity would offer. In addition, the change of investment objective would provide a more flexible remit that would overlap the existing strategic goals of both funds and satisfy the investment parameters of current shareholders in either fund.

“The changes would partially align the new fund with Neptune’s current range of ‘opportunities’ funds that target long-term capital growth by investing in any industry sectors of their respective markets.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com