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Kleinwort Benson to merge funds range
by Emma Dunkley on Nov 07, 2012 at 10:24
Kleinwort Benson is merging its fund range following a review to find ways of improving fund performance and operational efficiencies.
The firm has received shareholder approval to merge all but one of its Global Funds range, with equivalent funds in the Kleinwort Benson Elite PCC Limited range.
The rationalisation results from the review which showed there was a duplication of investment strategies and objectives.
The merger also allows the firm’s fund managers to focus on a smaller number of products, in order to enhance returns and minimise risk.
The firm said because the majority of the Elite Funds have a lower total expense ratio compared to the Global Funds, shareholders will also have a lower level of overall costs following the merger.
Clive T Wright, managing director of private wealth management offshore division at Kleinwort Benson said: ‘We believe that the Elite Funds range offers a straightforward and cost-effective way to access the extensive skills of our investment teams and by merging the funds in this way, streamlines our offering and avoids duplication, thus facilitating improved levels of performance.’
The Elite range comprises funds such as the Sterling Currency fund, the US Dollar Currency fund, and the Euro Dynamic Strategy fund.
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