plans to slap its name on the
funds, one of which is getting a new strategy along with a new name.
By Nov. 30, the Guinness Flight funds' brand name will change to Investec, according to a Tuesday company statement. The move reflects the merger of the two money management firms.
The brand-name change won't affect the funds' management, but one fund is making a strategy change as well. Shareholders have approved changing the small, $8 million
Guinness Flight Asia Blue Chip fund's name and focus. On Wednesday, the fund's name will change to the
Investec Asia New Economy
fund and its focus will shift accordingly. Rather than focusing on more staid or Old Economy blue-chip Asian stocks, the fund will now focus on companies that "use communications technology" to outdo competitors, according to the company's statement.
While that wording gives the fund plenty of leeway, the firm's announcement hints that the fund pays significant attention to the technology and telecommunications sectors.