abrdn shutters Emerging Market Local Currency Bond fund

$20m assets under management

abrdn is set to close the firm’s Emerging Markets Local Currency Bond fund, after its net asset value dropped to just $20.47m.

In an investor letter, abrdn said that the Aberdeen Standard SICAV I - Emerging Markets Local Currency Bond fund will close by 7 December, with liquidation of assets beginning on or around 23 November. abrdn attributed the decision to shutter the fund to poor inflows since launch, along with a gradual decline in net asset value over the years, leading to it no longer being considered commercially viable. The fund, which was launched in 2010, currently has 58 holdings, and Brett Diment is currently listed as the lead manager. abrdn's Iain Pyle: I do not believe in sitting on ESG sid...