Ignis Asset Management is closing a number of offshore funds - and re-launching others - as it moves to merge away its Irish-domiciled fund range into its Luxembourg SICAV.
The group is closing its International Global Government Bond fund, run by Russ Oxley and Stuart Thomson, and its £10.4m Global Technology fund. It is also re-launching the Ignis Emerging Markets Select Value fund as a fundamental GEMs strategy, with Mark Julio promoted to takeover the portfolio from James Smith, manager of the Ignis Global Equity fund. Since 2010, Ignis has been building a range of funds in Luxembourg and has decided to use the region as its main hub for pan-European fund distribution. The group said: "We believe that future asset growth and consequent cost reduct...
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