WDB to merge away Irish Assetmaster funds into UK products

Williams de Broë’s Assetmaster multi-manager range is to be transferred into the UK from its current domicile in Ireland through a series of fund mergers.

The WDB Assetmaster Balanced, Cautious and Growth funds are to be merged into corresponding UK-based funds with the same names. The WDB Assetmaster International Growth fund is to be merged into the Assetmaster Global Thematic fund.

The mergers are expected to be completed on November 29.

Article continues after advert

The four-strong range is run by Laurence Boyle and was launched in 2004. The range has £114.2m in assets under management, and all four Irish-domiciled funds ranked in either the bottom or third quartile in the their respective sectors in both three and five-year periods to November 21, according to FE Analytics.

In a letter to investors last month the company said the mergers were designed to “benefit [investors] by reducing the costs of their investment”.