abrdn is set to close the three funds in its MyFolio Monthly Income range as part of its fund rationalisation programme.
Shareholders have been notified that the MyFolio Monthly Income II, MyFolio Monthly Income III and MyFolio Monthly Income IV funds will close on 26 April. The funds held £17.1m, £36.4m and £7.6m in assets respectively, and had all experienced outflows in the last three years, according to FE fundinfo. With exception of MyFolio Monthly Income IV, the funds also significantly underperformed the IA Volatility Managed sector over a five year period. abrdn closes three 'subscale' funds in consolidation push Having reviewed around 550 funds last summer, abrdn concluded that 20%, or ...
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