PSigma is to close Tom Becket's £18m Dynamic Multi-Asset fund, taking the firm's range down to three funds.
The fund will close on 30 September, with Becket (pictured) continuing as chief investment officer.
The news follows the closure of the £1m UK Growth fund, run by Neil Cumming, which was wound up on 30 August.
Both funds are bottom quartile over one and three years: Dynamic Multi Asset has returned 10.9% over one year and 21.4% over three years, below the sector averages of 13.6% and 28.2% respectively.
The UK Growth fund returned 16.4% over one year and 33.5% over three years compared to sector averages of 23.7% and 46.7%, according to Morningstar.
PSigma will continue to run its flagship £393m Income fund, managed by Cumming and company co-founder Bill Mott, as well as its Global Equity and American funds.
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