F&C Investments plans to close Simon Holmes and Amy Xie Patrick’s Thames River Global Credit fund owing to its small assets under management.
A letter has been sent to investors in the Dublin-domiciled fund, which has just assets of just €15.3m (£13.1m), informing them of the decision to close the product.
A statement from the asset manager says: “F&C can confirm its intention to close the Thames River Global Credit fund, with the fund deemed to be too small to be economic.”
According to data from FE Analytics, the Thames River Global Credit fund had an ongoing charge figure of 1.93 per cent at the end of January. To this date, the portfolio returned 2.51 over one year, 2.41 per cent over three years and 6.1 per cent since launch in October 2009.
F&C says Holmes and Patrick will continue to co-manage the £164.8m F&C High Income fund and the F&C Global High Yield fund.