Royal London Asset Management has taken action to shut down two of its funds following extended performance failures in one and divestment of the other's largest shareholder making it non-viable.
In its most recent Assessment of Value (AoV) report, the asset manager said its Royal London UK Opportunities fund was closed on 6 June following "recent years" of underperformance. FCA sets out 'reduction and simplification' of Assessment of Value requirements "This is the fund's third successive red performance rating, and in our previous reports we have detailed actions taken by the investment manager to seek to address this," the AoV report said. "The underperformance has continued, however, and in light of the decision by the investor holding a large proportion of the fund to ...
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