Kleinwort Benson announces investment funds rationalisation

| November 9, 2012 | 0 Comments

Following a review to identify ways in which to improve overall fund performance and operational efficiencies, Kleinwort Benson has received shareholder approval to merge all but one of the Kleinwort Benson Global Funds range with the equivalent funds forming the Kleinwort Benson Elite PCC Limited range (‘Elite Funds’).

The simplified fund offering results from the conclusion that there was duplication in investment strategies and objectives, with a number of Kleinwort Benson funds operating in multiple platforms and jurisdictions. The merger allows the investment expertise of Kleinwort Benson’s fund managers to apply a consistent investment process aimed at enhancing returns while minimising risk. While the overall number of funds available has decreased, the Elite Funds range incorporates all of the current investment parameters of the funds, so Kleinwort Benson Global Funds Limited shareholders will continue to benefit from the same key features they currently enjoy, such as weekly dealing, low investment levels and asset range guidelines. Shareholders’ current contacts and overall experience remain the same under the Elite Funds range.

Because the majority of the Elite Funds have a lower total expense ratio compared to the Global Funds,shareholders will also benefit from a lower level of overall costs.

Clive T Wright, Managing Director of Private Wealth Management Offshore Division at Kleinwort Benson said, “At Kleinwort Benson, our core principle is putting our clients’ interest first. We believe that the Elite Funds range offers a straightforward and cost-effective way to access the extensive skills of our investment teams and by merging the funds in this way, streamlines our offering and avoids duplication, thus facilitating improved levels of performance.

Mouhammed Choukeir, Chief Investment Officer at Kleinwort Benson added:“Despite continued volatility in global markets, we believe our disciplined, multi-asset investment philosophy and process is best suited to navigate difficult investment environments. Our ability to swiftly move in and out of asset classes has helped fund performance and we are pleased with the recognition we have received from clients and advisers alike for this approach.”

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Category: Finance & Business

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