SLI shuts down emerging markets fund as major investor sells-out
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Edinburgh-based Standard Life Investments has announced that it is closing the Global Emerging Markets Equity Unconstrained fund following a drop in assets under management.
The wealth management arm of insurance giant Standard Life said the £22m oeic fund, managed by Matthew Williams, is no longer commercially viable due to a major investor selling out.
The firm added that the funds size would restrict its investment universe and will close on 14 January.
The sicav version of the portfolio, the $101m Global Emerging Markets Equity Unconstrained fund, will not be affected, the group explained, adding that “there continue to be long-term opportunities for investors in emerging markets and we have a number of vehicles through which investors can access these.”
A spokesperson for SLI said: “Investors in the fund have been informed about a number of options available to them.”
Over one year the Global Emerging Markets Equity Unconstrained oeic has fallen 18.3 per cent, FE data shows.
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