“Currently, the Luxembourg-domiciled feeder-funds invest into the UK domiciled master funds; however, Rathbones expects that after 29 March the current Ucits status of the master-feeder arrangement will end, thus ending the ability to market the funds in the European Union”.
Rathbones said it would create Luxembourg-domiciled directly invested funds that “will follow the same investment strategy as the UK-domiciled funds. This will allow existing investors in the Sicav to continue to maintain their investments.”
The money manager said it would cover the entire cost of converting the fund structures itself.
The mirrored funds will be the Rathbone Multi-Asset Total Return Portfolio, Multi-Asset Strategic Growth Portfolio, Multi-Asset Enhanced Growth Portfolio, Rathbone Income and the Rathbone Ethical Bond funds.