REGENT Fund Management is seeking approval from Regent Global fund holders to change the fund's manager to Manulife Regent Investment Corp, a joint venture between Regent and Canadian life insurer Manulife.
The name of the fund also will be changed, to Manulife Regent Global Fund.
'Basically, we want to separate the marketing from the fund management work,' said Jim Mellon, managing director of Regent.
The 50-50 joint venture will free Regent from marketing the fund, enabling it to focus on strategic day-to-day fund management.
'We are not a retail strategist. Manulife put in the money and we put in our fund, the Regent Global Fund,' Mr Mellon said.
Only Regent Global Fund, an umbrella fund, will be part of the joint venture because it is the only one authorised for retail sales.
It has about US$80 million under management.
