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Standard Life Investments to close six manager of manager funds

Standard Life HQ 480

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Standard Life Investments is preparing to close six manager of manager funds due to a lack of demand.

The six Oeic sub funds include the European Equity Manager of Manager fund, Japanese Equity Manager of Manager fund, North American Equity Manager of Manager fund, Pacific Basin Equity Manager of Manager fund, UK Bond Manager of Manager fund and UK Equity Manager of Manager fund. 

The range was launched in February 2006 and is run by US-based Wilshire Associates.

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A Standard Life Investments spokeswoman says the funds were designed for investors looking for exposure to a range of investment managers who are selected for their investment expertise.

She says: “Since these funds were launched, markets have changed and there is no longer the demand for the underlying funds that was originally anticipated, so the decision has been made to close the sub-funds for clients of Standard Life Investments and realise their investments.

“This decision is entirely in line with our strategic priority as providers of innovative fund solutions and will allow us to redeploy resource and expertise into areas that will support our strategic business objectives.”

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