London-based Sarasin & Partners, the firm overseeing £13.1 billion of client money, has renamed a raft of its funds and changed some of their investment styles, taking effect from the start of this year.

London-based Sarasin & Partners, the firm overseeing £13.1 billion of client money, has renamed a raft of its funds and changed some of their investment styles, taking effect from the start of this year.

Among its UK open-ended investment company subfunds range, the following name changes apply:

-- Sarasin International Equity Income Fund - renamed Sarasin Global Higher Dividend Fund;

-- Sarasin Global Equity Income Fund (Sterling Hedged) - renamed Sarasin Global Higher Dividend Fund (Sterling Hedged).

-- Sarasin GlobalSar – Cautious - renamed Sarasin GlobalSar – Strategic. 

The performance-related fee will be removed from any share class that currently charges such a fee from 1 January 2014. Subsequently, there will be a merger of the share classes that previously charged such a fee, into the equivalent share classes that do not charge it, on 2 January. The annual management charge of the continuing share classes will also be reduced.

Among its Irish unit trusts range, the following changes apply:

-- Sarasin IE EquiSar Global Thematic Fund (GBP) - the investment objective of the trust will change from seeking to achieve long term capital growth and income generation to seeking to achieve long term growth;

-- Sarasin IE EquiSar Global Thematic Fund (USD) - the investment objective of the Trust will change from seeking to achieve long term capital growth and
income generation to seeking to achieve long term growth;

-- Sarasin IE GlobalSar – Cautious (GBP) - renamed Sarasin IE GlobalSar - Strategic (GBP). The performance related fee will be removed from any unit class that currently charges such a fee. The annual management charge of continuing share classes will be cut;

-- Sarasin IE GlobalSar – Cautious (USD) - renamed Sarasin IE GlobalSar - Strategic (USD) on 31 December 2013. Performance related fees will be cut and annual management charges reduced.