InvestmentsOct 24 2014

SLI to close Ignis China fund

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Standard Life Investments (SLI) is to close the €36.5m (£28.8m) Luxembourg-based Ignis China fund, managed by Magdalene Miller, on the basis that is too small to be “economically viable”.

The fund will be closed on November 24 2014, and investors will be given the option of rolling their investments into the offshore $135.9m (£84.7m) SLI China Equities Sicav, which is also run by Ms Miller.

A spokesperson for SLI said: “The decision has been taken to close the Ignis China Sicav. This is a small fund and it is not economically viable to continue the fund at its current size. The existing investors in the Ignis China Sicav will be given the opportunity to transfer into the larger, comparable Standard Life China Sicav.”