Investec Asset Management is closing its Global Bond fund, while PIMCO is closing a sister fund to its $8.3bn GIS Global Bond fund, following falls in assets under management.
Investec said it would be in the "interests of shareholders" to shut its Global Bond fund, managed by John Stopford and Russel Silberston, after assets fell to £80m. Assets in the fund, which will close on 8 July, were at a peak of £180m in June 2013 but fell to £75m by 16 May, according to FE. Legg Mason launches global total return bond fund A statement from Investec said: "In order to best serve the needs of our clients, we constantly review our product range. Our priority is to ensure that our funds are aligned with investor requirements and perform at a cost effective level. ...
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