Saracen rebrands Growth fund

Also swaps references to FTSE index

Saracen has changed the name of Craig Yeaman's Growth fund, while also switching the index referenced in the vehicle's objective.

The £26m Growth fund will now be known as the TB Saracen UK Alpha fund, as the company said this better reflects the product's focus on UK equities, high active share and non-index alpha generation. Additionally, the current investment objective of the fund, as well as the £2.2m Saracen UK Income fund, will be amended to replace references to the FTSE All Share index with the MSCI UK All Cap. The company said the changes are being made because references to FTSE indices result in licence fees having to be paid, while the way in which both funds are managed will not be altered. In a...