SWIP To Close Five Funds

Scottish Widows Investment Partnership is shutting five funds across Europe, Japan and North America.

Scottish Widows Investment Partnership (SWIP) is shutting five funds across Europe, Japan and North America, Financial Times reports. The group is closing the Steven Maxwell-led £10.6 million Pan-European Equity fund and the £15 million Pan-European SRI Equity fund. The move came after large redemptions by investors. Additionally, SWIP is also ending its £15.2 million Asia-Pacific fund managed by Ian Vose, the £13.5 million Japanese Smaller Companies fund led by Kaori Ishii and the £26.2 million North American Smaller Companies fund led by Nick Ford. The closure is followed by a review of fund management strategy.

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