RLAM enters second phase of OEIC conversions
Royal London Asset Management (RLAM) is planning to convert a further four unit trusts to OEICs (Open Ended Investment Companies) at the end of February 2010. This follows the five initial fund conversions that took place in October 2009.
Each fund conversion will be subject to unit holder approval, but it is anticipated that the following four funds will convert to OEICs on 26th February:
-
Royal London Japan Growth Trust
-
Royal London UK All Share Tracker Trust
-
Royal London FTSE® 350 Tracker Trust
-
Royal London US Index Tracker Trust
All of these funds will become part of the Royal London Equity Funds ICVC.
As part of this conversion process, the funds will move from a dual to a single pricing model. Importantly, the investment objective and policy, risk profile, fund manager and fees for each fund will remain unchanged.
Susan Spiller, Head of Marketing at RLAM commented:
"We have been very pleased with the response to our fund conversions so far. We are committed to offering the kinds of products and services our clients want and this second round of OEIC conversions will ensure our fund range continues to meet the changing needs of our diverse client base."
- ENDS -
For further information:
RLAM
Stephen Watchorn
Tel: 020 7506 6582
Stephen.watchorn@rlam.co.uk
Quill Communications
Jo Stonier
Tel: 020 7758 2230
Jo@quillpr.com
Editor's notes:
Royal London Asset Management (RLAM)
was established in 1988 and specialises in providing investment management solutions for both the Royal London Group and a range of external institutions. These include FTSE 250 companies, local authorities, universities, charities, wealth managers, financial advisers and private clients. RLAM manages over £35bn of assets, employing more than 50 experienced investment professionals in our London based office.
-
RLAM converted the following five unit trusts to OEICs on 30th October 2009:
-
Royal London Sterling Credit Trust
-
Royal London Ethical Bond Trust
-
Royal London UK Special Situations Trust
-
Royal London UK Mid-Cap Growth Trust
-
Royal London European Income Trust
The funds are grouped under two umbrella ICVC structures, Royal London Fixed Income Funds ICVC and Royal London Equity Funds ICVC, both of which are incorporated in London. Source: rlam as at 1st February 2010, unless otherwise stated. rlam is a marketing brand including the following companies: Royal London Asset Management Limited registered in England & Wales number 2244297; Financial Services Authority (FSA) register number 141665. Royal London Pooled Pensions Company Limited registered in Scotland number SC048729; FSA register number 110456. Royal London Unit Trust Managers Limited registered in England & Wales number 2372439; FSA register number 144037. All of the above are authorised and regulated by the Financial Services Authority. It also includes Royal London Asset Management Bond Funds Plc registered in Ireland number 364259 and regulated by the Irish Financial Services Regulatory Authority (IFSRA). All these companies are subsidiaries of The Royal London Mutual Insurance Society Limited registered in England and Wales number 00099064. Head office: 55 Gracechurch Street, London EC3V 0RL. Our reference: 025-PRESS-01/2010-SW
Royal London Group, is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands:
- Scottish Life – UK pensions market
- Bright Grey – UK protection market
- Scottish Provident – UK protection market
- Royal London 360° – offshore investment markets
- RLAM – fund management
- RLCM – specialist cash and liquidity management for UK onshore clients
- RLAM C.I. – specialist cash and liquidity management for offshore clients
- RLAS – life and pensions administration
- Fundsdirect / Ascentric – funds supermarket; Wrap platform
Royal London also distributes life and pensions products through Santander's UK branch networks.
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £35.9 billion. Group businesses serve around 3.4 million customers and employ 2,800 people. Figures quoted are as at 31 December 2009.