Aviva Investors is set to close its £60m Global Cautious Income and £39.3m Global Balanced Income funds, saying it will become increasingly difficult to generate consistent income without taking on "inappropriate risk".
The funds, both managed by Nicholas Samouilhan (pictured) and Paul Parascandalo, will close to buys and sales on 1 August before shutting completely on 16 August. They both launched in June 2006. A spokesperson for the company said: "We can confirm we are closing the funds. Over time, we believe it will become increasingly difficult to generate the level of income investors expect without taking an inappropriate level of risk. "Consequently, we believe it is in the best interest of investors to close the funds. Investors can switch into another Aviva Investors fund with no charge or r...
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