Sarasin & Partners has re-domiciled its $1bn Guernsey unit trust range to Dublin to make use of wider investment powers under Ucits IV, and to widen its distribution opportunities to Europe.
Sarasin & Partners has re-domiciled its $1bn Guernsey unit trust range to Dublin to make use of wider investment powers under Ucits IV, and to widen its distribution opportunities to Europe.
The funds moved, including the EquiSar and GlobalSar portfolios, will be able to hold unlimited amounts of cash and specialist investment funds under Ucits IV. This was restricted to 10% and 5% respectively under Guernsey rules.
Funds affected include EquiSar Sterling Global Thematic, GlobalSar Dynamic, Income Portfolio, Real Estate Equity and Sustainable Equity – Global Real Estate. The funds have also had minor changes to their names.
Sam Jeffries, partner, said: “Our decision to re-domicile these funds has been driven by the wider distribution aspects of our investor base and the more flexible investment powers of Ucits IV under which the funds are permitted to operate.
“We have always been proponents of the well thought out legal structure and regulatory workings of Ucits III, which continue under Ucits IV, and believe these will both benefit our existing investors in our funds and allow broader access to these funds to investors not just in the UK but on a pan-European basis.”
The group said the move is likely to reduce the overall fund costs to investors.
Jeffries added Sarasin will continue to have an active presence in Guernsey where it has opened new offices. The Dublin office, led by Fergus Crawford, opened in 2008.
