Ninety One UK Sustainable Equity fund to merge with global mandate
Manager Matt Evans to remain part of sustainable equity team
Manager Matt Evans to remain part of sustainable equity team
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Rumours regarding a tie-up have been in circulation for more than a month
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Responsible Investment research team absorbed into Global Fundamental Research team
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The newly-created FTSE 250 company will lower ongoing fees to below 0.7%
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They will combine into a £1bn trust on the FTSE 250 managed by Nicholas Weindling and Miyako Urabe
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Some 8% of Witan’s portfolio is invested in other trusts
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The merger is the result of Witan CEO Andrew Bell’s impending retirement
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Its income and growth VCTS could combine into new funds worth £190.8m and £128.8m
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Michelle Scrimgeour held the role for five years
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Board will also consider proposals from new investment managers to take over the trust
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Changes include a reduction in second-tier management fees and a cost contribution from Janus Henderson
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QuotedData analysts argue that a managed wind-down should be preferable
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