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Downing announces change in Authorised Corporate Director (ACD) for the Downing Fox Funds
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London, 23 October 2024 – Downing LLP today announced a change to its Authorised Corporate Director (ACD). Effective 29 November 2024, Margetts Fund Management Limited (“Margetts”) will replace Valu-Trac Investment Management Limited (“Valu-Trac”) as the new ACD for the Downing Fox Funds ICVC.
This change comes as part of Downing’s ongoing commitment to delivering the best outcomes for its investors and the advisers who look after them. Margetts has been selected for its robust and resilient systems, specialisation in managing funds of funds, and proven track record in optimising operational efficiency. We expect these enhancements to bring long-term benefits to investors and further strengthen the governance and oversight of the Downing Fox Funds.
What does this mean for our clients?
Downing LLP will continue to act as Investment Manager to the Company (and each of the sub-funds), and there will be no change to the investment management of the sub-funds as a result of the developments set out in this announcement. The VT Downing Fox Funds will be renamed the MGTS Downing Fox Funds.
Next steps and further information
There is no need to take any action as a result of these changes.
More detailed information can be found in the document published by Valu-Trac, which can be accessed here.
Downing remains committed to providing the highest level of service and ensuring the best outcomes for clients and their advisers. Thank you for your continued trust in Downing.
