Sudden fund closure takes majority investor adviser by surprise

Marlborough BDM did not know

Hannah Godfrey
clock
“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.
Image:

“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 suspen...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA's editors in pictures: Rob Kingsbury, Katrina Lloyd, Scott Sinclair, Julian Marr and Tom Ellis

Six editors in 21 years: Advice as viewed by those who ran Professional Adviser

From 2001 to 2022

Professional Adviser
clock 24 June 2022 • 9 min read
Leading financial journalist named as new editor of Professional Adviser

Leading financial journalist named as new editor of Professional Adviser

Joining in September

Professional Adviser
clock 23 June 2022 • 1 min read
Only 25% of advisers hunting for new clients under 35 - report

Only 25% of advisers hunting for new clients under 35 - report

Underserved younger demographic

clock 22 June 2022 • 2 min read