Sudden fund closure takes majority investor adviser by surprise

Marlborough BDM did not know

Hannah Godfrey
clock • 2 min read

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 on 26th November and closed on 27th November. It invests in commodities, such as raw materials and agricultural products, that can be bought and sold, like gold and coffee, or in companies that are operating in the resources sector, such as mining, oil and gas, according to information on the fund found on platform Old Mutual Wealth's website. According to Star House Financial Services C...

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