Ninety One merges two funds following underperformance

Merged into Global Macro Allocation fund

Ninety One has merged its Global Multi-Asset Sustainable Growth fund (GMASG) into the Global Macro Allocation fund (GMA).

The move took place last week following a collapse in the value of the former's assets, along with persistent underperformance recorded in recent years. According to GMASG's factsheet, it has underperformed both its benchmark and sector each year on an annual basis since 2019, when it made 12.1% versus 6.3% and 15.9%, respectively.  Ninety One outflows surge to £4.3bn as assets slump 5% A company spokesperson said investors will benefit from GMA's "enhanced level of asset allocation flexibility", which has enabled the fund to "deliver a superior return outcome versus GMASG for a si...