SWIP says that its £11m Pan-European Equity, £22m Pan-European SRI Equity and £15m Asia-Pacific funds have experienced redemptions of “a significant number of shares” following a review of asset allocation requirements by certain institutional investors.
“These redemptions will substantially reduce the funds’ net asset value and result in the funds becoming too small to be commercially viable. With that in mind SWIP has decided that it is in the best interests of all existing investors to close these funds,” the company said in a statement.
SWIP has also decided to shutter its £16m Japanese Smaller Companies and £26m North American Smaller Companies funds after a review of its fund management strategy.
“SWIP has decided it does not wish to pursue a geographically focussed smaller companies strategy going forward for funds of this size,” a statement said.
