Vanguard, the world’s second largest asset manager, is to change the name of its Global Balanced fund to Vanguard Sustainable Life 60-70% Equity, it has been confirmed.
The investment policy of the £235m fund will also be updated to reflect the incorporation of certain sustainability criteria to which the fund must adhere to. A letter seen by Investment Week confirmed the changes will come into effect from 8 December. In a letter to clients a platform warned that the changes may affect the value of the fund. "As a result of the change to the investment policy, portfolio realignment costs will be incurred, which will be borne by the fund," said Anthony Scammell, UK operations director of Quilter. "Vanguard do not consider the costs to be material."...
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