Insight has decided to close its £62m UK Small Cap and £39m Evergreen funds after large investors planned to redeem their holdings.
The group says considering the resulting sizes of the funds, it was no longer economically viable to keep them running. Insight's UK Small Cap fund will close on 7 May, with the Evergreen vehicle to close on Insight 11 June. The manager has received FSA consent to shut the funds, and will pay in full the costs associated with the closure, except for audit costs, which will partly be met by the fund's provisions for the cost of an annual audit as at the closure date.
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