Neptune has written to advisers to confirm that Asia Pacific Opportunities fund will be changed to the South East Asia fund and the fund will narrow the range of countries it invests in.
The £17m fund, run by fund manager Tom Sinclair, is set to be renamed on March 30.
The change was first revealed by Money Marketing and Fundweb earlier this month, but Neptune refused to confirm the name change.
In a letter sent to advisers, seen by Fundweb, it confirms that the fund will change its name and change its investment policy to invest only in the South East Asia region.
It says: “The change will remove from the fund’s remit a number of countries that in our opinion are an inefficient way of expressing such a positive view on the South East Asian growth opportunity and which currently form a significant portion of the market, including Australia and Korea, as well as China and India where Neptune already have a number of deidcated country funds.” (article continues below)
The fund is going to invest in Singapore, Malaysia, Indonesia, Thailand and Philippines and it will not longer be investing in Australia, Korea, India, China and Taiwan.
The benchmark will change from MSCI AC Asia Pacific ex-Japan to MSCI South East Asia.
The letter also says that the estimated costs of the amenment are 1.1% of the value of the fund.