Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

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.

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 Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Play Colin McLean's mid-cap picks

Colin McLean's mid-cap picks

The SVM director and fund manager on his pick of the UK mid-caps.

Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Your Business: Cover Star Club

Profile: Psigma's Edinburgh boss on why he is in Scotland long term

Profile: Psigma's Edinburgh boss on why he is in Scotland long term

When Tim Wishart agreed to launch an Edinburgh office for Psigma he was not expecting to  head the company’s first overseas team

Wealth Manager on Twitter