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RLAM renames strategic growth trust

Royal London Asset Management has changed the name of its UK strategic growth trust to Royal London UK mid-cap growth trust in order to more accurately reflect its investment objectives.

RLAM hopes the name change will allow it to be compared to the similar mid-cap funds within the IMA UK All Companies sector.

By principally investing in companies that comprise the FTSE mid 250 index, the fund will continue to target capital growth over the medium to long term.

Since it’s launch in 2006, the fund has had strong relative returns and outperformed its UK All Companies peer group by 19.67 per cent and 8.31 per cent p.a. over one and three years.

Fund manager Leigh Himsworth says: “In the three years since the fund launched we have experienced some truly historic market movements. I have always tried to look through the short-term market noise to assess fundamental value and identify unappreciated growth opportunities in the diversified mid cap arena. The name of the fund is changing but I will be maintaining the same, high conviction approach to stock selection as I look to deliver solid, sustainable returns over the medium term.”


Ripple effect

Last week’s publication of the retail distribution review was not directly relevant to mortgages. However, there will likely be some sort of read across to the sector in due course. Implementation of the RDR is not scheduled until 2012 and it has been years in the making. It is therefore highly improbable that any similar changes to mortgage regulation will take place for at least three years, especially seeing as the implications of the forthcoming European Commission mortgage directive will need to be considered.

Reform school

With the 2007 and 2008 Pension Acts on the statute books, it is tempting to think the pension reform agenda is done and dusted but several pieces of the jigsaw still need to be put in place.

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