Canada Life AM shutters Global Infrastructure and Global Equity Income funds
As of the date of the closure, Global Infrastructure held less than £850,000 in assets, while Global Equity Income held £2.1m.
A spokesperson for the firm said: «We can confirm that the WS Canlife Global Infrastructure Fund and WS Canlife Global Equity Income Fund closed on 27 October.
»Following recent redemption requests from investors, both funds were not commercially viable or in a position to deliver the best outcomes for investors."
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As of 30 September, the Global Infrastructure fund held £20.3m in assets, while the Global Equity Income fund held £24.6m, according to Morningstar Direct.
As of the date of the closure, Global Infrastructure held less than £850,000 in assets, while Global Equity Income held £2.1m.
Global Infrastructure, which launched in January 2013, reached its peak in assets under management in August 2022, at £28.5m. Launched in May 2012, Global Equity Income managed £38.9m at its AUM peak in July 2018.
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The Global Infrastructure strategy was managed by Pei Lee and Robert Lee, while the Global Equity Income fund was run by Bimal Patel and Mike Williams.
According to FE Fundinfo, Canada Life AM's Global Equity Income has returned 33.5% in the last five years, while the IA Global Equity Income strategy is up 40% over the same time period.
Global Infrastructure has gained 22.3% in the last five years, outperforming the IA Infrastructure's total return of 21.5%.
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