The plan is aimed at removing duplication within the range and is still subject to shareholder approval. If approved, the Investec International Accumulation fund range will be merged into the Investec Global Strategy fund range.The merger was proposed following recent regulation changes, which allow offshore funds to gain distributor status in Britain on a subfund or share class basis. According to Mike Ryder Richardson, offshore marketing director at Investec, all of the subfunds within the Global Strategy range had qualified for UK distributor status before the regulation change. However, because some of the group’s clients were looking to roll up their income, Investec also had the International Accumulation fund, a non-distributing range. “Now we can have distributing and non-distributing funds within the same umbrella – all of the funds will be merged into the Global Strategy fund range,” says Ryder Richardson. It has not yet been announced which funds within the range will seek UK distributor status and which will remain non-distributing. Ryder Richardson adds that investors in the merged funds will be subject to the same income policy, taxation and charging structure as before, but will simply be part of a larger fund. The combined range will include 26 subfunds covering major equity and bond markets as well as a few specialist offerings. Two new funds will also be created, the GSF Global Dynamic fund and the GSF Pan European Equity fund. l News Analysis, page 12.