BMO Global Asset Management is closing the F&C Global Bond fund on 13 August due to dwindling assets.
The £13.39m fund launched in 1981 and has been managed by Sujay Shah - fund manager in the global rates team - since 2014. A spokesperson for BMO GAM commented: "We regularly review the viability of our product range. As part of this, we recognised that the F&C Global Bond fund was no longer sustainable in size, and it is in the best interest of investors to close the fund." Over three years, the F&C Global Bond 1 fund (AMC of 1% and minimum investment of £1,000) has underperformed its peers, returning 3% compared to the 21% average of the IA Global Bonds sector to the end of July. It...
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