Legg Mason is to close two funds available to UK investors as part of a move to wind up its Hong Kong-based Esemplia Emerging Markets subsidiary.
The $6.9m (£4.5m) LMHK China and $112m Legg Mason Emerging Markets Equity funds are to be wound up with money returned to investors.
A statement from Legg Mason said the firm’s small size meant that the closure of Esemplia “best serves both Esemplia’s clients and Legg Mason’s shareholders”.
The group added that it was still seeking ways to grow its international equity product range, including potential acquisitions.
