This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.

Thames River to close offshore absolute return fund

  • Print
  • Comment

Thames River has announced it is to close its Irish-domiciled absolute return fund, after it failed to attract new inflows over the past three years.

The decision was taken by the directors of Dublin Oeic traditional multi funds, “in the best interests” of the fund and investors.

The fund is managed by head of multi-alternative Ken Kinsey-Quick and assistant fund manager James Rous.

According to Standard & Poor’s, the it stood at £59m at March 2011.

In its most recent report, Standard & Poor’s described the fund’s performance as “disappointing”, but retained its “AA” rating.

The portfolio will be liquidated “as soon as possible” and hold the portfolio in cash during the formal notice period.

All shares in the fund will be redeemed on the dealing day of November 18, and will be closed to new subscriptions.

Investors electing for cash will receive the proceeds within five working day of the final net asset value calculation on November 18 or will be able to transfer into other funds.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick


Do you see the value in adviser trade bodies?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments