Britannic Asset Management is to close two of its sector funds, Global Resources and Financials, at ...
Britannic Asset Management is to close two of its sector funds, Global Resources and Financials, at the end of the month.
The group, which launched its range of sector funds in January 2001, is to retain its Global Technology portfolio, run by Alison Wright, and its Healthcare fund, managed by Margaret McLaren.
Stephen Hall, manager of the £3m Global Resources portfolio, is also a member of the group's Japan team and will continue in that role.
The £3m Financials portfolio has been jointly managed by Far East manager Diamond Lee and European manager Andrew Killean, both of whom will continue in their other roles.
The funds are to be wound up on 28 February.
Unitholders in the affected portfolios can opt to either encash their investments in the portfolios or take a free switch into another Britannic portfolio.
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