Kames Capital is set to close its £27m Kames Equity Market Neutral Plus fund due to its assets under management (AUM) shrinking to a level that is no longer viable to manage.
The firm said it has made the recommendation to the board to close the fund, which remains subject to the directors' approval. The fund is managed by portfolio managers David Pringle and Malcolm McPartlin who have been in charge since its launch in December 2014. Kames's Haworth appointed deputy head of equities According to FE, the fund has lost 11.3% over the past three years versus the 15.8% average return of the FO Hedge/Stru Prod - Equity sector, as at 25 January. The fund's top two holdings are the HM Treasury United Kingdom DMO 0% TSY Bill 02/10/17 and the HM Treasury Uni...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
