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

More on Funds

Nick Train UK equity funds downgraded by Morningstar due to 'narrow focus'

Nick Train UK equity funds downgraded by Morningstar due to 'narrow focus'

Silver to bronze

clock 22 February 2024 • 3 min read
ETFs gain ground on passive mutual funds as total inflows top £2bn

ETFs gain ground on passive mutual funds as total inflows top £2bn

LSEG Lipper UK Fund Flows report

clock 21 February 2024 • 1 min read
Redwheel enters venture capital market with UK climate tech fund

Redwheel enters venture capital market with UK climate tech fund

Partnership with Turquoise

Valeria Martinez
clock 21 February 2024 • 1 min read
Trustpilot