Investors within the funds, which have both underperformed their benchmarks, have been informed of the decision to wind them down.
The £7m Asia Pacific fund has been managed by the group’s co-heads of emerging markets, Karim Abdel-Motaal and Bart Turtelboom, since January 2010.
Previously it was managed by Shaun Giacomo and used Societe Generale strategy as legacy from the takeover of the UK asset management arm of the French bank in December 2008.
The transition to GLG’s own fund management strategy was designed to improve performance of the fund, but over one, three and five years (to 31 July) the fund has still underperformed the benchmark and sits within the third quartile.
Over the past year to 31 July the fund delivered returns of 15.7%, compared to 17.2% from the index, according to Lipper data. Over the same period it is ranked 44 out of 73 in the sector.
Meanwhile, the £3m Global Emerging Markets fund, also run by the duo has posted a poor performance over the past year.
According to Trustnet, the fund has lost 29.5% in the year to date, compared to a loss of 17% from the sector on average and 13.8% from teh MSCI EM index.
Richard Phillips, head of UK retail at Man Group, said an extension of the group’s offshore EM proposition was behind the closures.
He said: "We recently launched five regional emerging markets funds into our Dublin range and as a consequence decided to close two existing smaller funds where there was a degree of overlap."
