Standard Life Investments (SLI) is to close its Global Emerging Markets Equity Unconstrained Oeic after a major investor withdrew from the fund.
The £21.9m portfolio, managed by Matthew Williams, will shut on January 14 2016.
A spokesperson said: “Due to a cornerstone investor deciding to withdraw from the fund, it is now considered too small to be commercially viable.
“Its size will also prevent it from investing in certain assets that might provide better investment performance, while continuing to hold a diversified range of assets.”
However, SLI said the $101m (£67m) Global Emerging Markets Equity Unconstrained Sicav, which the Oeic was modelled on, would continue to operate as usual, while a “full suite” of emerging market funds remained available to investors.
“Investors in the fund have been informed about a number of options available to them,” the firm added.
The fund has shed 19.7 per cent over one year compared to a 13.6 per cent fall in the MSCI Emerging Markets index, according to FE Analytics.
