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SWIP to convert unit trusts to OEICs

Scottish Widows Investment Partnership is asking investors to approve proposals to convert its range of 74 unit trusts into 40 Oeics.

In a move it says would create a more focused fund range, SWIP will convert the funds in three stages from July if it receives the backing of 75 per cent of investors.

SWIP has also announced the departure of global marketing director Fiach Maguire, who has left the company by mutual consent.

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