Sudden fund closure takes majority investor adviser by surprise
Marlborough BDM did not know
“Because the strategy of the fund is unique there is no alternative fund and our clients are just going to be dumped into cash in two weeks" - Star House's Samuel Blanning.
The Marlborough Commodity fund has closed to new investors, leaving one adviser and his firm – who are the biggest investors in the fund – taken by surprise.
The fund is a small unit trust that invests in Exchange Traded Funds (ETFs). It had £9.53m funds under management (FUM) as of the end of September, according to Trustnet. The fund will be suspended...
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