UPDATE: Eclectica to close Hendry's Europe fund

Eclectica Asset Management is to close Hugh Hendry's CF Eclectica Europe fund.

Letters have been sent to investors informing them the fund is to be wound down. The proposed closure date is 26 August. The Eclectica Europe fund was formed in 2009 from the merger of the CF Eclectica Continental European fund and the CF Eclectica European Fund, two Hendry-managed funds launched by the firm to target the UK retail market in April 2006. It currently has just £6.1m in assets. The fund is third quartile over three years, according to FE, having returned 10.24% versus an IMA Europe ex-UK sector average of 12.43%, and fourth quartile over one year, returning 7.57% versus ...