A number of F&C investment trusts will be officially renamed from 12 November to align with the BMO Global Asset Management brand, four years after the acquisition of F&C Asset Management in 2014.
This is part of BMO Financial Group's wider plan to rebrand F&C, with all open-ended funds and corporate entities in Europe adopting the BMO name from Monday, along with all savings plans and half of its ten closed-ended vehicles.
The £3.7bn Foreign and Colonial Investment trust has also formally changed its name to the F&C Investment trust from today, following approval from shareholders at the AGM earlier this year.
Customers' investments will not be affected by the changes and all aims and objectives will remain the same. The group said these changes "mark an important step in BMO Global Asset Management's unified brand ambition."
The following savings plans and investment trusts will be unified under the BMO brand from 12 November 2018:
|CURRENT NAME||NEW NAME|
|F&C ISA / Investment Trust (ISA)||BMO Individual Savings Account (ISA)|
|F&C Junior ISA (JISA)||BMO Junior ISA (JISA)|
|F&C Private Investor Plan (PIP)||BMO General Investment Account (GIA)|
|F&C Children's Investment Plan (CIP)||BMO Junior Investment Account (JIA)|
|F&C Child Trust Fund (CTF)||BMO Child Trust Fund (CTF)|
|F&C Capital and Income Investment Trust PLC||BMO Capital and Income Investment Trust PLC|
|F&C Global Smaller Companies PLC||BMO Global Smaller Companies PLC|
|F&C Managed Portfolio Trust PLC||BMO Managed Portfolio Trust PLC|
|F&C Private Equity Trust PLC||BMO Private Equity Trust PLC|
|F&C UK High Income Trust PLC||BMO UK High Income Trust PLC|
All other trusts, including the F&C Commercial Property and UK Real Estate Investments trusts will remain unchanged at this moment in time.
Marrack Tonkin, head of investment trusts at BMO Global Asset Management, said: "I am pleased to announce that we are aligning our savings plans under the BMO brand. With our continued integration into the BMO family, serving over twelve million retail customers, we remain committed to helping investors make the most of their money and helping them achieve their life goals."
There will be no changes to any share class codes or any company registration numbers; nor any operational changes connected with this announcement. The following trusts will change their tickers from Monday:
|NEW TRUST NAME||Current Ticker||New Ticker|
|BMO Capital and Income Investment Trust PLC||FCI||BCI|
|BMO Global Smaller Companies PLC||FCSC||BGSC|
|BMO Managed Portfolio Trust PLC - Income Share Class||FMPI||BMPI|
|BMO Managed Portfolio Trust PLC - Growth Share Class||FMPG||BMPG|
|BMO Private Equity Trust PLC||FPEO||BPET|
|BMO UK High Income Trust PLC - Ordinary Share Class||FHI||BHI|
|BMO UK High Income Trust PLC - B Share Class||FHIB||BHIB|
|BMO UK High Income Trust PLC - Units||FHIU||BHIU|
|F&C Investment Trust PLC||FRCL||FCIT|
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