Royal London has stripped the assets in its UK Equity Trust down from £3bn to £186m, redistrib...
RLAM has a mandate from Scottish Life to allocate its clients’ life and pensions money, a portion of which was being invested in the UK Equity Trust.
This capital has now been spread across its Special Situations, UK Smaller Companies and UK Tracker funds, all of which were launched in July.
The UK Equity Trust’s holdings have also been cut from 120 to 60 to boost performance.
Meanwhile, the group has closed its underperforming £454m North American fund and replaced it with a US Tracker Trust.