Standard Life Investments intends to close its Emerging Market Debt Unconstrained fund, after the departure of a "cornerstone investor" saw assets fall to £11m.
The fund, which was launched in April 2015, was £26m at the end of March 2016 but AUM fell to £11m following the withdrawal of the large investor. This has meant it has "become increasingly difficult" to run the fund in line with its investment objectives, SLI said. The firm intends to apply to the Financial Conduct Authority for approval to close the fund. Performance has been bottom quartile since launch with the fund returning 3.4% over one year to 19 July 2016, versus returns of 18.4% by the IA Global Emerging Market Bond sector, according to FE. This is the second emerging ...
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