River and Mercantile closes Global High Income fund

River and Mercantile has closed its Global High Income fund after it failed to attract significant assets.

The fund was launched in April 2010 for manager Alex O'Reilly, but has not seen significant inflows since, and is now just £2.3m in size. O'Reilly will remain at the firm as a portfolio manager on the global equity team.  Investors have until Friday 21 December to either move to another fund or redeem their holdings.  A spokesperson for River and Mercantile said: "The firm is underdoing a tidy up of its fund range and, as this fund is sub-£5m, the decision was taken to close it." According to its latest factsheet, the Global High Income fund has returned 1.3% over one year to 31 Oc...