Baring Asset Management is to seek regulator and investor approval to close its offshore £71.9m Baring North America fund, managed by oppenheimer funds.
The firm says it actively manages its fund range to align resources and products with “areas of strength” and to focus on markets that “offer growth potential for investors”.
A spokesperson says: “As a result there are always likely to be some funds that are closing while others are being launched.
“Following a recent review of our fund range, we have taken the decision to close the Baring North America Fund, following regulatory and shareholder approval.”
Existing clients will be able to transfer into any other Baring fund in the same range “at no cost to them”.