Royal London Asset Management will complete conversion of its range of unit trusts to COLL on 1 August 2006. This is the third and final stage of the COLL project.
The Royal London fixed income and cash unit trusts, along with the Scottish Life European Trust, will be converted.
Notification was sent to unit holders and intermediaries on 1 June 2006.
The COLL conversions are ahead of the FSA’s February 2007 deadline, by which date all UK authorised Funds must have converted to the new rule book.
“The COLL regulations enable investment managers to extend their investment powers, most notably in the use of derivatives,” says Andrew Carter, CEO of RLAM. “Although we are not seeking to use such strategies in the existing fund range, we are considering launching further funds in the future which will enable our investors to capitalise on the enhanced powers available to fund managers under COLL.”