Martin Currie, an Edinburgh-based asset manager, has shut down its second absolute return fund in recent months, Financial News reports. However, the asset manager intends to boost the range next year. Len Riddell, head of global financials, and previous co-manager of the Global Financials Absolute Return fund, has quit the company.
With total assets declining to below $10 million the Global Financials fund was closed in September. The fund was rolled out in 2007 with a 2009-end target of $250 million. Martin Currie has about $26 billion in assets under management.
Click here for the story from Financial News.