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Threadneedle to close Worldwide Select fund

Threadneedle to close Worldwide Select fund

Threadneedle is closing their Worldwide Select fund after it failed to grow in size.

'Since its launch in December 2007, the fund has not grown to a level which makes it economically viable to manage and given its current size, the fund is unlikely to attract new investors,' Threadneedle said in a letter to clients.

The fund is managed by Giles Gilbertson and Damian Barry and is less than £3 million in size. It will close on September 12.

“We are committed to providing our clients with the best investment opportunities and due diligence on their assets, and as such regularly review our fund range,' the firm explained.

'We have decided to close the Threadneedle Worldwide Select Fund due to its small size and limited demand for the strategy, and in the best interest of its shareholders.'  

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