T.Bailey is planning to merge its £1.7m UK Best Ideas fund into its £158m flagship Growth portfolio.
UK Best Ideas unit holders are due to receive the proposal document on Friday. In the letter to investors, T.Bailey CEO Peter Letley writes: "Investor demand for this product has been very low and as at 11 February 2010 the discontinuing fund has assets of only approximately £1.7m and has only 92 unitholders. "Managing such a small fund is inefficient largely due to the greater impact of costs and it is therefore our intention, with regret, to close the fund." Head of sales, marketing and communications Philippa Gee says the £1.7m fund never gained traction and has been dwarfed by ...
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