Wellington Management has closed its Global Total Return UCITS fund, a spin-off of its $3.8bn Global Total Return strategy, Portfolio Adviser has learned.
The fund, which officially closed on 29 April, was launched in January 2012 and sought absolute returns above a cash benchmark over the medium-to-long term, primarily through investing in a range of fixed income asset classes. However, the fund has returned just 2.5% over the past five years and 1.9% over the past six months, according to FE fundinfo data.
See also: Otus Capital hires fund manager duo to launch global strategy
In a statement, Wellington said it decided to close the fund after a shareholder redemption left it too small to manage effectively, having slipped to around £67.8m of assets as of 31 March this year.
A spokesperson told Portfolio Adviser: “The Wellington Global Total Return fund (UCITS) closed on 29 April 2026, following the board’s determination that a reduction in assets resulting from a shareholder redemption would compromise effective management.
“The UCITS fund was a tailored version of our broader $3.8bn Global Total Return strategy, including the Wellington Global Total Return fund, a non-UCITS vehicle, which currently manages $2.6bn in assets.”
