Standard Life Investments is closing the Global Emerging Markets Equity Unconstrained fund following a drop in assets under management.
The group says the £22m Oeic fund, managed by Matthew Williams, is no longer commercially viable due to a major investor selling out and that it’s size will restrict its investment universe.
The Sicav version of the portfolio, the $101m Global Emerging Markets Equity Unconstrained fund, will not be affected, the group says, 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 says: “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.
The fund will close on 14 January.