Marlborough to close uneconomical Ethical fund

Marlborough Fund Managers has said it will close its £5.7m Ethical fund which is run by Bob Brown, Alan Beaney and Oliver Brown.

The company said it had reviewed the future of the Marlborough Ethical fund and “reached the conclusion that its size means it will not be economically viable, so the decision has been taken to close it”.

“Shareholders have been offered the chance to switch to any other Marlborough fund without charge and proceedings to wind up the fund will begin on January 31,” the company added.

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The fund has delivered a third quartile return of 0.9 per cent over five years to January 7, however, it has posted top quartile gains of 10.6 per cent over three years, according to FE Analytics.

The trio are employed by Marlborough as third party investment managers on the Ethical fund and also manage the £11.5m UK Primary Opportunities fund for the group.