Aberdeen is set to shut its £2.4m Multi-Manager Diversified Alpha portfolio due to its small size and the potential negative impact on performance.
In a note to investors, the company said the small fund, managed by its multi-manager team, could also be constrained in meeting its investment objective and policy. The fund is set to be closed on 22 April, when all remaining units in the vehicle will be redeemed, will the proceeds being issued to remaining unitholders on 28 April. Aberdeen rounds off tough 2015 with £9.1bn outflows; chairman to retire The company said: "As we do not expect the fund to grow in size, we now believe it is in the best interest of unitholders to redeem all units and close the fund." Launched in 2008...
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