Saracen to merge global income funds

Saracen is to merge its Global Income & Growth fund with the SMT Saracen Global Equity Income fund.

The merger, taking effect as of 25 February, will produce a combined fund with £16m in assets, which will continue to be managed by Saracen chief executive Graham Campbell and Daniel Leaf. Saracen has managed the SMT fund since last September. "The larger fund should appeal to potential investors," said Campbell. "Equity valuations remain attractive and we are confident our long-term research-based approach will continue to deliver growth in both capital and income for our investors." Since launch, Global Income & Growth has produced a total return of 19.8% to the end of January...