Aegon AM to close European Bond fund

Aegon Asset Management is closing its European Bond fund, claiming it is too small to be economical....

Aegon Asset Management is closing its European Bond fund, claiming it is too small to be economical. The vehicle joins the company's UK Cautious Managed fund, which will also close from 31 July. The Cautious Managed product is currently £7.8m in size and the bond fund £3.6m. A statement from Aegon says both funds are unlikely to attract significant future inflows. Sales & marketing director Jon Bennett says the group will cover all the costs incurred from the closure of both funds. He says: "The funds are now at a level whereby they are uneconomical to run and this could potentially d...