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State Street closes outperforming inflation-linked bond fund

State Street closes outperforming inflation-linked bond fund

State Street Global Advisors (SSgA) has shut its Global Inflation Linked Bond Index fund despite its strong performance.

Over the three years to the end of January, the fund returned 15.4% compared with 13% by the Barclays US Treasury Inflation Protected Securities index, alongside an average of 9.4% from its Citywire peer group.

A spokesperson for SSgA told Wealth Manager that the decision had been taken ‘due to the asset size being too small to allow efficient management of fund. It was in the shareholders’ interests that SSgA decided to close it.’ The fund was around £25 million in size before it liquidated this month.

The fund was registered in Ireland, and earlier this year SSgA re-domiciled a seven-strong £1.1 billion range from Ireland to Luxembourg.

SSgA still runs both a £255 million Euro Inflation Linked Bond Index fund and a £10 million Active Global Inflation Linked Bond fund.

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