Merger information

ES Investec Wealth & Investment funds Scheme of Arrangement with the Rathbones Multi-Asset Portfolios

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Background

On the 21st of September 2023, Investec Wealth & Investment (UK) entered into an all-share combination with, and is now part of, Rathbones Group Plc, creating the UK’s leading discretionary wealth manager.

The proposals to merge our multi-asset funds with the Rathbones Multi-Asset Portfolios passed at a vote of unitholders on the 28th February 2024. The merger became effective at midday 15th March 2024.

Our priority is to minimise any impact on our clients as we seek to bring the best of both firms together.

Learn more on this page below.

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Merger

Following the combination, strategic reviews have been undertaken which focus on scale to benefit our investors. As a result, a merger of the ES Investec Wealth & Investment (IW&I) fund range to the Rathbones Multi-Asset Portfolio range has been considered as the most appropriate and viable option for the long-term interests of investors.

This was based on several factors, including the similar investment objectives and policies, lower comparable charges, the same legal structure, and the same daily dealing approach.

The merger is expected to provide good outcomes for investors through a more diversified and cost-effective solution.

At an Extraordinary General Meeting (EGM) on 28 February 2024, the proposals passed at a vote of unitholders and the merger of the ES Investec Wealth & Investment (IW&I) fund range with the Rathbones Multi-Asset Portfolio range became effective at midday on 15 March 2024. 

You can access the formal circulars and other documents circulated prior to the vote below. 

1. As your holding(s) is held within our nominee services, these will be pooled with votes on behalf of other clients and submitted together.

IW&I Documents distributed ahead of the vote

Letter to Clients

Voting Form for Clients

Fund Comparison

 
Expand the below sections to access fund-specific documentation, including formal circulars and Key Investor Information Documents (KIIDs).

FAQs

We've answered some likely questions, but you can also seek further information by requesting we contact you. 

  • What's actually changing?

    It is only the underlying investment that may change, therefore throughout this process, you will remain a client of the IW&I Fund Service who can be contacted via the form below or on 0808 196 39603 between 8am and 5pm, Monday to Friday (except Bank Holidays). 

    The table below shows where the change will be happening. 

    ServiceProvider
    All-inclusive investment management of your portfolioRathbones Asset Management
    Quarterly Valuations IW&I Fund Service
    Fund Service team to assist with administration queriesIW&I Fund Service
    Regular top-ups and withdrawalsIW&I Fund Service
    ISAs, Junior ISAs and Bare TrustsIW&I Fund Service
    Simplified tax reporting IW&I Fund Service
    Online access via Investec Online and the Investec AppIW&I Fund Service
    Regular fund updates (factsheets) Rathbones Asset Management

  • Will there be any change to fees or charges?

    Historically all charges came via the underlying investment, which we targeted to keep at no higher than 1.00% per annum. As a result, this wasn’t taken as a direct charge on your account but calculated daily from within the investment and could be seen via your end of year statement typically produced in December.

    As part of the service will now be provided by Rathbones Asset Management, you may see future charges structured differently, however we will ensure that our charges continue to be clear and fair.

    As shown in the fund comparison, by leveraging the strengths of the combined Rathbones Group, we can ensure that you won't pay more for the service that you currently receive.

  • What do I need to do prior to the vote?

    1. Read and understand the letter, the circular and the KIIDs for the Rathbone funds, all listed further above on this webpage.

      If you have any questions, please contact us via the enquiry form below or call us on 0808 196 3960 (between 8am and 5pm, Monday to Friday, except Bank Holidays). 

    2. Complete the voting form, sign it and send it to us no later than Thursday 22nd February 2024. Forms received after this date will not have their votes included.

      There are two ways you can send us your signed form:

      a) By email to IWIFundService@investecwin.co.uk

      b) By post to:

      IW&I Fund Service Team
      The Plaza
      100 Old Hall Street
      Liverpool
      L3 9AB

  • The vote has happened, so how was mine recorded?

    In the absence of any instruction, we will vote in favour of the merger as per our Terms & Conditions.

  • I'd like to talk to someone at Investec Wealth & Investment (UK) about this, how can I?

    If you have any questions, please contact us via the enquiry form below or call us on 0808 196 3960 (between 8am and 5pm, Monday to Friday, except Bank Holidays). 

Further questions?

Get in touch

We're available to answer any questions you may have. Please complete the form below and a member of the team will be in touch.

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Investec Wealth & Investment (UK) is a trading name of Investec Wealth & Investment Limited which is a subsidiary of Rathbones Group Plc. Investec Wealth & Investment Limited is authorised and regulated by the Financial Conduct Authority and is registered in England. Registered No. 2122340. Registered Office: 30 Gresham Street. London. EC2V 7QN.