Martin Currie closes underperforming Global Energy fund

Anna Fedorova
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The £3m Martin Currie Global Energy fund is set to wind down at the end of February after prolonged uderperformance.

The portfolio, managed by Ruairidh Stewart and Duncan Goodwin, has lost over 5% over three years against a sector average return of 16%. Over the last 12 months, the energy sector suffered a 2% loss, while the fund fell by 10.4%, the company said in a report. The fund was particularly impacted in August and September, which were unusually weak and volatile months as worries persisted over the US and eurozone. The stocks that were hit the hardest were oil services, especially Baker Hughes. The weakest performer in the portfolio was Aurelian Oil & Gas, which sold off on poor test ...

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