This comes after shareholder approval which has enabled Kleinwort Benson to merge all but one of the Kleinwort Benson Global Funds range with the equivalent funds forming the Kleinwort Benson Elite PCC Limited range.
The review found there was duplication in investment strategies and objectives, with a number of Kleinwort Benson funds operating in multiple platforms and jurisdictions.
The merger allows for a consistent investment process aimed at enhancing returns while minimising risk, the company stated.
While the overall number of funds available has decreased, the Elite Funds range incorporates all of the current investment parameters of the funds, allowing continuity of the same key features such as weekly dealing, low investment levels and asset range guidelines.
The majority of the Elite Funds have a lower total expense ratio compared to the Global Funds so there will also be a lower level of overall costs.
Clive T Wright, managing director of private wealth management offshore division at Kleinwort Benson said that the merging the funds in this way “streamlines our offering and avoids duplication, thus facilitating improved levels of performance.”
