Insight Investment plans to close five equity funds after conceding they are no longer economically viable to run.
Currently run by Swip managers, Insight plans to close the £34m European Alpha, £32m Global Alpha, £24m European Small Cap, £20m UK Alpha and £18m UK Discretionary funds on 12 February, subject to receiving FSA approval. "Insight has been informed by the principal investors in the funds of their intention to redeem their holdings," the group says. "After considering the size of each fund, excluding these principal investors' holdings, subject to FSA approval our intention is to close the Funds on the basis that they are no longer economically viable." Investors can switch into the ...
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