View the article online at http://citywire.co.uk/wealth-manager/article/a750355
Nemesis to merge weak Europe fund into stellar global strategy
by Robert St George on May 09, 2014 at 11:20
The European fund has returned a top-quartile 36% over the past three years, while the global one has produced a bottom-quartile 13% through the period. Both are managed by George Nadda.
The European fund currently has £15.9 million of assets under management (AUM), while the global fund runs less than £5 million.
‘In the investment manager’s opinion, the merging fund’s AUM is now too low to allow the fund to be managed efficiently,’ Nemesis stated.
‘Following the merger, however, the resulting AUM should make the existing fund more cost effective and economical.’
Nemesis will bear the legal, advisory and administrative expenses incurred by the merger, while the costs of re-aligning the portfolio will accrue to the European fund.
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