Merger information

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

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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.

An Extraordinary General Meeting (EGM) will be held at 11am on Wednesday 28th February 2024 whereby votes from shareholders will be recorded, including yours as a client of Investec Wealth & Investment (UK)1, and the Chairman of the meeting will confirm the outcome.

Whilst we believe that our proposals are in the best interest of Shareholders as a whole, we recommend you fully read the formal circulars (found below) prior to exercising your vote. It is also important that you read the Key Investor Information Document (KIID) (also below) carefully before deciding how to vote. 

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

Letter to Clients

Voting Form for Clients

 
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?

    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
  • Can you give me advice on this?

    We are unable to provide any advice and therefore if you are in any doubt as to the action you should take, please consult a Financial Adviser immediately.

  • What if I do nothing or miss the deadline?

    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). 

  • Can I attend the extraordinary general meeting (EGM)?

    No, Investec Wealth & Investment (UK) will attend on your behalf and announce the result of the vote. 

Next steps

Read the documents

Please digest the documents provided in the communications sent to you and on this webpage. 

Send us your vote

Complete the voting form attached in the email or letter we sent you, or available in the 'IW&I Documents' section of this page, sign it and send it back to us no later than Thursday 22nd of February 2024. Forms received after this date will not have their votes included.

You can send us your signed form in one of two ways:

  1. Email it to IWIFundService@investecwin.co.uk 
  2. Post it to:
    IW&I Fund Service Team
    The Plaza
    100 Old Hall Street
    Liverpool
    L3 9AB

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

Take note of the timeline

  • The EGM will take place at 11am on the 28th of February 2024.
  • You will be able to buy or sell your investment up until 11am on the 8th of March 2024.
  • After this date, no further trades will be accepted until after the merger.
  • On the 15th of March 2024 the Merging fund will be converted into the Receiving fund
  • You will receive shares in the Receiving fund that are equal in value to the shares held in the Merging fund as at this date.
  • From 20th March 2024, you will be able to buy and sell your investment.

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.