Threadneedle to close former LVAM multi-manager fund

Threadneedle is to close its Worldwide Select multi-manager fund, one of the range that it acquired from LV= in 2011.

The fund, managed by Damian Barry and Giles Gilbertson, stands at just £3m in size and has returned 26.4% over the three years to 8 August, according to Morningstar. That compares with an IMA Flexible Investment sector average of 25.4%. Barry and Gilbertson continue to run a number of other multi-manager mandates at the group, including the Balanced Managed and Diversified Income funds and a range of Managed Portfolio products. Worldwide Select is among a number of mandates Threadneedle acquired in October 2011 when it took over the fund range then managed by LVAM, the asset managemen...