SLI to close EM fund

Closing down signStandard Life Investments is to close an emerging markets fund launched just over a year ago after a significant investor withdrew funding.

The firm will close its €31 million Global Emerging Markets Equity Unconstrained Oeic, which is managed by Matthew Williams, on January 14, 2016.

Returns are down 19.7% over the last year, according to FE Trustnet figures, and Standard Life Investments deems the Oeic too small to be commercially viable.

The firms says the size of the fund, which was launched in October last year, will prevent it from investing in certain assets that might provide better investment performance, while still being diversified.

However, the €95 million Global Emerging Markets Equity Unconstrained Sicav, which the Oeic is modelled on, will continue to operate as usual.

"We believe 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 SLI spokesperson says.

"Investors in the fund have been informed about a number of options available to them."

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