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Standard picks F&C chief to push closed-end funds

Standard Life Investments is developing its closed-end fund business with the appointment of Gordon Humphries as head of investment companies.

Humphries, who is expected to join the firm this summer, was head of invest ment trusts at F&C Asset Management.

Working with head of UK Institutional Business George Walker, Humphries will assume responsibility for leading and developing Standard Life Investments’ closed end funds business, including investment trusts and limited partnerships.

The firm closed its European property growth fund. Following a year of restructuring of the fund to a limited partnership in June 2005, an addit-ional 250m euros was raised. Once fully invested and 50 per cent geared, EPGF will have a fund size of over 800m euros.

Walker says: “The addition of Gordon Humphries to the team represents a key strategic step in the expansion of closed end business. There is considerable scope for us to win management contracts for investment trusts.”

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