Barings is closing its Strategic Bond fund in January as its overall assets fall below £30m.
In a letter to clients, Barings said it will not be accepting new investments into the fund from 17 Decemberand the strategy is due to be closed on 18 January next year. With £29.7m in assets according to data from Morningstar, the value of the fund has fallen to a level at which Barings believes it is no longer competitive, given the level of fixed costs payable out of the assets. "Barings don't anticipate a level of new investments in the fund in the near future which will make it sustainable," said Anthony Scammell, UK operations director at Quilter. "Consequently they believe that...
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