RLAM to rename UK Special Sits fund

Royal London Asset Management (RLAM) will change the name of its UK Special Situations fund to UK Opportunities, in an attempt to describe its investment process more accurately.

Although the fund will also remove the reference to special situations from the £472.5m fund’s investment objective and universe, RLAM says there will be no change to the way the fund is managed.

The fund holds a concentrated portfolio of the team’s 30-40 best ideas, drawn from across the market cap spectrum. Derek Mitchell, the manager, will continue to focus on identifying key macro drivers for the British economy. (article continues below)

He may take significant overweight or underweight sector positions relative to the fund’s benchmark, the FTSE All-Share index. When selecting stocks, Mitchell places particular emphasis on earnings momentum.

All changes will be effective from January 21. The fund is a sub-fund of Royal London Equity funds, an investment company with variable capital (ICVC).