Rathbone UK Opportunities Fund

Rathbone Unit Trust Management Ltd confirms that the Rathbone Recovery Fund has been renamed to the Rathbone UK Opportunities Fund. 

This change came into effect from 23 October 2017.  It reflects a revision to the fund’s objective which removes reference to the word ‘recovery’. Otherwise, the fund’s objective continues to specify a focus on identifying companies, primarily in the UK, where the manager believes there is a catalyst for the creation of value. In addition, Rathbones is lowering the fund’s annual management charge (AMC) from 0.75% to 0.45% for I-class units.  It is Rathbones’ intention to review this position after a period of three years or until the fund’s assets under management reach £250m. Those investors wishing to take advantage of the lower AMC would not be subject to an increase in AMC on review; instead, Rathbones would close the I-class shares to further investments and launch a new one.

The Rathbone UK Opportunities Fund will continue to be managed by Alexandra Jackson. The fund’s benchmark remains the FTSE All-Share and will have a mid and small cap bias with exposure to the AIM market. We are seeking exposure to long term, tidal wave trends and blockbuster growth. 

Commenting on these changes, Mike Webb, chief executive of Rathbone Unit Trust Management Ltd, said: “As part of our ongoing review of our investment proposition and in light of discussions with advisers, it has become apparent that the term ‘recovery investing’ has become increasingly ambiguous with the definition of ‘recovery’ now applied too widely to be meaningful to investors. Fund managers frequently refer to differing characteristics when applying the term ‘recovery’ and their mandates may embody varying investment styles and risk profiles. We have always sought to describe our investment propositions as lucidly as possible, and so have taken the step of renaming the Rathbone Recovery Fund to Rathbone UK Opportunities Fund. In doing so, we aim to give potential investors a much clearer impression of what they can expect from the fund."

Further information regarding the fund can be found in the Prospectus and factsheets, which are available on this website.

You are not required to take any responsive action as a result of this circular. Although you are encouraged to consider whether the changes described above affect the extent to which the fund continues to remain suitable in meeting your clients' investment objectives.

For queries relating to this circular please contact us on 020 7399 0399.

 
Mike Webb
Chief Executive Officer