Columbia Threadneedle closes Target Return fund as assets drop

Managed by Matthew Cobon

Columbia Threadneedle has announced that it will close its €13.3m Target Return fund, managed by Matthew Cobon, following a drop in demand for the strategy.

The fund will close on 28 February, with investors being offered the option to transfer into another Columbia Threadneedle fund for free until 27 February. According to FE, the fund, launched in April 2006,  has seen strong outflows over the last three years, with peak assets under management for the period of €131m recorded at the end of January 2014. Likewise, the fund's performance has also suffered, losing investors 9.1% over three years and 7.9% over one year. Columbia Threadneedle to rebrand managed fund range A spokesperson for Columbia Threadneedle Investments said: "We ...