Rlam converts unit trust range to Oeics

Royal London Asset Management is converting its range of unit trusts to Oeics over a phased period ending in April 2010.

Each fund conversion will be subject to unitholder approval, but it is anticipated the first five conversions will be completed by the end of October this year. The funds will be grouped under two ICVC umbrella structures: Royal London Fixed Income Funds ICVC and Royal London Equity Funds ICVC, both of which will be incorporated in the UK. As part of this conversion process, the funds will move from a dual to a single pricing model. The investment objective and policy, risk profile, fund manager and fees for each fund will remain unchanged. "Oeics are increasingly the preferred typ...