Investors in the UK Select Trust have agreed to change the name of the trust following its acquisition by Threadneedle in July 2012.
The fund has been renamed Threadneedle UK Select, which will be managed by Simon Brazier, head of UK equities at the company.
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The trust’s shares are reported to have increased 42% since Threadneedle acquired the mandate and the board has also been purchasing back shares to bring the share price in line with its assets value.
UK Select trust will be managed according to Threadneedle’s UK Equity Alpha strategy, already utilised by Brazier in managing the £1.1 billion Threadneedle UK Fund.
Threadneedle said UK Select Trust is the first listed closed-end investment company managed by it and the move complements its interest in further developing products in the market.
Threadneedle, owned by Ameriprise Financial, provides investment solutions for retail and institutional clients.
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