Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

F&C shuts A-rated star’s Russia fund

F&C shuts A-rated star’s Russia fund

F&C has closed two funds, including one run by a Citywire A-rated manager.

The F&C Russia fund was headed by A-rated Gareth Morgan, but contained less than £5 million. Over the past year it returned 3.6%, compared with a loss of 1.5% from the average fund in the Russian equity sector.

F&C has also wound up its F&C Asia Pacific Dynamic fund, which was managed by Ben Akrigg and June Lui. It held less than £30 million, and had returned 0.7% over the past year compared with an average loss of 0.8% from its Asia Pacific excluding Japan peer group.

‘F&C Investments is continually reviewing the viability of its fund range,’ a spokesperson for the firm told Wealth Manager.

‘As a result of recent and proposed fund flows it has decided to close the F&C Russia fund and the Asia Pacific Dynamic fund, both of which will end up being very small.’

The group added that investors in the Russia fund had the opportunity to transfer into F&C’s £100 million Eastern European fund.

That fund is also managed by Morgan, alongside Kristof Bulkai and Claire Franklin, and Russia is their largest country exposure with a 54% weighting. Over the past year it has returned 4.6% versus the sector average of 4.4%.

F&C has likewise offered Asia Pacific Dynamic investors the opportunity to transfer into its £238m Pacific Growth fund.

That is managed by Akrigg too, and has returned 1.3% over the past year compared with a sector average of 3.2%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: from managing Brunei’s billions to Dorking’s pension pots

Profile: from managing Brunei’s billions to Dorking’s pension pots

Mole Valley Asset Management's boss on why he chucked in multi-billion mandates for Surrey wealth management

Wealth Manager on Twitter