Three months ago, we announced plans for a series of fund mergers and renaming (where applicable). These mergers are now complete and we have relaunched the Rathbone Recovery Fund (previously the Rathbone Smaller Companies Fund and Rathbone Special Situations Fund), with a new objective. This fund is now available for investment.
Following the suspension of dealing in the Rathbone Blue Chip Income and Growth Fund, dealing has now recommenced.
Clients who were invested in the Rathbone High Income Fund, the Rathbone Smaller Companies Fund and the Rathbone Special Situations Fund will be notified of their unit position on their holdings in either or both of the Rathbone Blue Chip Income and Growth Fund and the Rathbone Recovery Fund by 31 July 2009 at the latest.
For your information, the factors used in converting existing holdings to the post-merger holdings are as follows:
For clients who elected to switch from Rathbone Smaller Companies Fund to Rathbone Blue Chip Income and Growth Fund, the prices used on exit of the existing fund and re-entry into the chosen fund are as follows:
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Rathbone Smaller Companies Fund
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Price used for exiting holders of income units
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202.104233 pence per unit
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Price used for exiting holders of accumulation units
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211.473381 pence per unit
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Rathbone Blue Chip Income and Growth Fund
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Price used for incoming holders of income units
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92.872778 pence per unit
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Price used for incoming holders of accumulation units
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108.023022 pence per unit
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The merger factors applied to the number of units held in the disappearing funds to obtain the number of units held in the destination fund are as follows:
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Rathbone Special Situations Fund to Rathbone Smaller Companies Fund (merged fund renamed to Rathbone Recovery Fund)
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Income units to Income units
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0.37798384
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Accumulation units to Accumulation units
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0.41987403
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Rathbone Special Situations Fund to Rathbone Blue Chip Income and Growth Fund
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Income units to Income units
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0.83829627
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Accumulation units to Accumulation units
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0.83771393
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Rathbone High Income Fund to Rathbone Blue Chip Income and Growth Fund
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Income units to Income units
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0.66600712
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Accumulation units to Accumulation units
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0.66983323
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