Columbia Threadneedle shuts trio of funds as group rules out developing index tracker range

Effective 22 March

Columbia Threadneedle is set to close three unit trusts after the firm said they had fallen below a size which was "economically unviable" to manage.

Effective 22 March, the firm said the £20.4m Threadneedle Navigator Growth Trust, run by senior portfolio manager Alex Lyle, and the £26m Threadneedle Navigator Income Trust, managed by the firm's head of investment grade, EMEA, Alasdair Ross, were unlikely to attract any future investments. Furthermore, the firm knew of further planned redemptions on the income trust, which would reduce its size even more. Columbia Threadneedle monitors capacity in £1.5bn Credit Opportunities fund It noted the reason for closing the £36.7m Threadneedle Navigator UK Index Tracker Trust was because ...