BNY Mellon and Insight propose fund mergers

MergingBNY Mellon and Insight Investment are to merge several funds, subject to shareholder approval.

They propose to merge the Insight Investment Diversified High Income, Insight Investment Wealth Builder Balanced and Insight Investment Diversified Dynamic Return Funds with the new Insight Global Multi-Strategy Fund. Steve Waddington would manage the merged fund.

The Insight Investment Diversified Target Return Fund would be merged into the new Insight Global Absolute Return Fund, also managed by Waddington. Meanwhile, the Insight Investment Monthly Income Bond Fund would be merged into the new Insight Strategic Bond Fund, managed by Adam Mossakowski and Peter Bentley.

The proposal would also see the Insight Investment Sterling Corporate Bond Fund merged into the new Insight Inflation-Linked Corporate Bond Fund, managed by David Hooker and Mossakowski.

The Insight Investment UK Equity Income Booster and Insight Investment Monthly Income Funds would be merged into the new Insight Equity Income Booster Fund, managed by Tim Rees.

The Insight Investment UK Dynamic Managed and Insight Investment Equity High Income Funds would merge into a new fund, the Insight Equity Income Fund, also managed by Rees.

“In light of forthcoming industry and regulatory changes, and in recognition of the types of strategies wholesale clients will require going forward, Insight is refocusing its offering to leverage the key areas of investment excellence appropriate to the changing marketplace,” a statement says, referring to the retail distribution review.

Shareholders can vote at an extraordinary general meeting on December 21.

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