UPDATE: Castlestone winds up Dublin fund range

Castlestone is to wind up its listed funds business, consisting of four portfolios, three of which were suspended earlier this year.

At a meeting on 9 August, the company directors decided to terminate the Dublin-domiciled fund range. The affected funds are the Aliquot Commodity, Aliquot Agriculture, Intelligent Portfolio Asset Allocation, and Aliquot Precious Metals funds, which will close on 11 August. The closures will "inevitably" lead to staff changes, according to the firm, which will be confirmed at a later date. Castlestone said the funds' net asset value is below the minimum viable amount, so it believes it is in shareholders' best interests to terminate the funds. In a statement the group also blamed m...