Abbey to bring Scot Mut funds under Oeic umbrella

Abbey is looking to close down the entire Scottish Mutual life, pension and unit trust fund ranges a...

Abbey is looking to close down the entire Scottish Mutual life, pension and unit trust fund ranges and merge them into its existing multi-manager Oeic umbrella. The umbrella, which launched late last year, has five sub-funds at present: Equity, Growth, Balanced, Cautious and Bond Monthly Income. Among the first Scottish Mutual funds to be merged into the Oeic are the Japan and Far East unit trusts. John Kelly, head of client investment at Abbey, said the group does not want to compromise what investors have bought and if necessary it will launch further sub-funds within the Multi-Manager ...