Collins Stewart closes UK Focus fund

Collins Stewart has liquidated its UK Focus fund, after only garnering £1.6m in assets under management since launch in 2008.

The fund's manager Sean O'Flanagan will remain at the firm, focusing solely on managing the IHT Portfolio Service. Collins Stewart says: "There comes a point when the inadequate size of a fund outside the core proposition makes it increasingly poor value for clients, despite the admirable efforts of the fund managers." The fund was due to be closed on 11 March, but the firm has now liquidated it early. Collins Stewart launched the fund for David Shapiro in January 2008, targeting undervalued stocks estimated to be at a 40% to 50% discount. It aimed to outperform the FTSE All Share ...