Abrdn closes Diversified Core Growth fund as investor pulls out

Fund closes on 25 November

Abrdn is closing its ASI Diversified-Core Growth fund as its largest investor has pulled out leaving the fund unfeasibly small, Investment Week has learned.

The £130.4m fund will not be able to accept new investments as of today (13 Oct) and will close on 25 November, a letter seen by Investment Week said. The letter stated that abrdn have agreed to meet the expenses of the closure with the exception of "any transaction costs involved in liquidating the assets of the fund". The transaction costs are estimated to be around 0.11% of the fund value, which will be reflected in the redemption price. The fund is run by the diversified assets team which also run the ASI Diversified Income fund and ASI Diversified Growth fund. abrdn's Bird: ...