abrdn closes three 'subscale' funds in consolidation push

Each held less than £100m AUM

abrdn has closed three funds as it continues its consolidation programme, which will see the merger or closure of over 100 funds.

These are the Sterling Long Dated Government Bond, World Income Equity and UK Equity Index Managed funds. Each fund held £8m, £32m and £53.6m assets under management respectively. In the last three years, the funds have suffered heavy outflows, although some more than others. The UK Equity Index Managed fund has seen its size reduced by over £580m, according to data from FE fundinfo, despite outperforming the IA All Companies sector in both the short- and medium-term.  abrdn confirms plans to merge or close 100 funds The World Income Equity fund has halved in assets since the start...