Columbia Threadneedle shutters CT Asia Pacific Equity fund
Columbia Threadneedle said closing the fund is “in the best interests of shareholders”.
A spokesperson said the fall in assets had resulted in the fund being «too small» to allow it to be run efficiently and that the firm believes the closure is «in the best interests of shareholders». The fund currently holds £29.4m in assets.
«Columbia Threadneedle constantly reviews its range of funds and is committed to offering investors the best possible opportunities and value,» they said.
European equity portfolio manager Webster exits Columbia Threadneedle
The original name of the fund, which launched in May 2000, was BMO Asia Pacific Equity, but it was changed to CT Asia Pacific last year following Columbia Threadneedle's acquisition of BMO GAM's EMEA business.
The strategy was managed by Christopher Childs, who took over as manager after the departure of Christopher Darling at the start of 2023, after 17 years at the firm.
According to data from FE fundinfo, the fund has underperformed the IA Asia Pacific excluding Japan sector over a three- and five-year period. In the last year, it is up 1.6%, while the sector is down 0.1%.
BoE's Andrew Bailey: Brexit has 'created opportunities' despite short-term negative impact — reports
Read more on investmentweek.co.uk
