How are we to achieve this?
- The Rathbone High Income Fund will merge into the Rathbone Blue Chip Income and Growth Fund, (formerly known as the Rathbone Income and Growth Fund).
- The Rathbone Special Situations Fund will merge into the Rathbone Smaller Companies Fund and with a revised objective, will be re-launched as the Rathbone Recovery Fund. A conference call held on the 19th March explained how this fund will be managed. Download the transcript here
- In the interest of treating our customers fairly, without creating a liability to capital gains tax, we propose to offer unitholders in both the Rathbone Special Situations Fund and the Rathbone Smaller Companies (Recovery) Fund the option of receiving units in the Rathbone Blue Chip Income and Growth Fund, for those seeking income and prospects for capital growth.
- A detailed circular to unitholders and advisers will be prepared and distributed in the coming weeks. Subject to approval, the fund mergers should be complete by mid-July 2009. For more information on these changes click here.
David Holloway, Head of Marketing says:
“Market conditions have prompted us to review and streamline our range of products and launch a new initiative appropriate for business conditions and in anticipation of future demand. Now is the time for positive action and out of it will come products that are well-positioned to provide our clients with suitable UK equity investments for the future.
The new Rathbone Recovery Fund represents an excellent opportunity to take advantage of the coming recovery in world markets and the global economy.”
Who is affected by this in the investment team?
Our funds and managers are listed below.
- Marina Bond, will co-manage the new Rathbone Recovery Fund (with Julian Chillingworth). This combines the industry experience of Julian and Marina, both of whom have success in managing their respective funds (Rathbone Blue Chip Income and Growth Fund and Rathbone Smaller Companies Fund) and represents a blend of large/mid-cap experience with experience of small cap and AIM. Alan Dobbie (Assistant Fund Manager) will assist Julian and Marina.
- Julian Chillingworth, with around 30 years of industry experience, will continue to manage the Rathbone Blue Chip Income and Growth Fund which usually invests at least 75% in the stocks of the FTSE 100 index.
- As demand for high-yielding products continues to rise, Carl Stick will concentrate his efforts on the management of our largest fund, the Rathbone Income Fund. The team continues to receive the support of Elizabeth Davis (Quantitative Analyst), Alan Dobbie, George Viney and Alexandra Jackson.