T.Bailey has received investor approval to merge its £1.8m UK Best Ideas fund into its flagship £158m Growth portfolio.
The merger received 100% support at a unitholder meeting yesterday and will take place on Friday 12 March. T.Bailey decided to merge the funds because of low investor demand for the UK Best ideas portfolio. Head of sales, marketing and communications Philippa Gee says the £1.8m Best Ideas fund never gained traction and has been dwarfed by the Growth vehicle. "This is about positioning the business going forward, coming out with funds which fit investors' requirements and where we can deliver outperformance," she says.
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