Close to rename and reclassify discretionary portfolios

Close Asset Management has renamed four of its discretionary portfolios and has moved two of the range to different IMA sectors to better reflect their investment objectives.

As of 17 October, the company's £381m Discretionary Growth portfolio will become Discretionary Balanced, and the £240m Discretionary Dynamic portfolio will be renamed Discretionary Growth. The £106m Discretionary Balanced portfolio will become the Discretionary Conservative portfolio and the £33m Discretionary Conservative portfolio will be renamed Diversified Income as of the same date. Close head of marketing Caroline Lloyd said the changes would more accurately reflect each portfolio's objective. The funds will remain within their existing sectors, with the exception of Diversif...