Sterling Investments renames flagship fund; removes entry fee and dual pricing

Overhaul part of plans to broaden investor appeal

David Brenchley
clock • 3 min read

Sterling Investments' flagship fund has "finally arrived in the 21st century", with the removal of its entry fee and dual pricing structure, alongside a name change, Investment Week can reveal.

The MI Discretionary Unit Trust has been renamed the MI Sterling Select Companies fund, while the £43m fund, which was launched in 1963, has also had its longstanding entry fee scrapped, along with its bid and offer pricing, with it moving to a "simple, NAV-based single-price" structure. The fund's manager and founder of Sterling IM Melwin Mehta told Investment Week he hoped the new name would "convey that we are selective", as the firm attempts to broaden its appeal from mainly retail investors, to encompass wealth manager and IFAs. Out with the old: Sterling Investments' Melwin Meht...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot