“We have decided to close the Threadneedle Worldwide Select Fund due to its small size and limited demand for the strategy, and in the best interest of its shareholders,” a spokesperson said.
“We are committed to providing our clients with the best investment opportunities and due diligence on their assets, and as such regularly review our fund range.”
Damian Barry and Giles Gilbertson have run the fund since November 2011 after the fund was launched in December 2007. Over a one year period, the fund has delivered a cumulative performance of 5.2% compared to the IMA’s Flexible Investment performance index, which delivered a cumulative performance of 5.7%, according to FE Analytics.
The Worldwide Select Fund is one of a range of multi-manager funds added to the range in 2011 when Threadneedle took over a number of mandates then controlled by LVAM, the asset management arm of insurer LV=. Since then, Gilbertson and Barry have managed the full range of managed portfolios, along with the Worldwide Select Fund and Balanced Managed Fund.
