Premier to merge away White's UK Alpha Income fund

Premier is planning to merge Chris White's £30m Premier UK Alpha Income fund into Chris Wright's £10m Premier European Optimum Income fund, which is undergoing a change in investment strategy.

Wright's European fund will be converted into a UK equity strategy, renamed the Premier Optimum Income fund. As part of the overhaul, the fund will employ an active options strategy, in order to enhance the fund's income. "We believe the proposed amendment to the fund's investment policy will both enhance returns to the fund and attract a wider range of investment from new investors," said Premier. Changes are subject to shareholder approval at an EGM on March 8. The Premier European Optimum Income fund has returned 15% over the past year, below the IMA Europe Including UK peer ...