Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

Schroders to shut senior pair's local currency EMD fund

Schroders to shut senior pair's local currency EMD fund

Schroders has liquidated the Schroder ISF Emerging Market Local Currency Bond fund over seen by senior pair Rajeev De Mello and James Barrineau.

Information from a shareholder note seen by Citywire Selector states the fund is too small to run cost effectively and will therefore be closed at the end of the month.

As of December 31 2016, the fund, which is Luxembourg domiciled and was initially launched in July 2012, has $11.8 million in assets under management. This is a drop from $47.2 million achieved in April 2016, according to Lipper data.

De Mello is head of Asian fixed income at the fund and named across several region-focused funds, while Barrineau is co-head of emerging market debt at the asset manager.

The liquidation will take place on 28 February 2017, the fund has been closed to subscriptions from new investors, with subscriptions or switches into the fund still being accepted until February 21 2017.

In a statement to Citywire Selector, a spokesperson said:  ‘I can confirm we will be closing Schroder ISF Emerging Market Local Currency Bond effective from 28 February 2017.

'At Schroders we continually review our fund range and as a result we believe that this fund is too small to be run economically for our clients.'

On a three-year total return basis, the fund lost 10.1% in US dollar terms which was while its Citywire-assigned benchmark, the Bloomberg Barclays EM LC Govt-10%CountryCap TR USD, dropped 2.8% over the same period to the end of December 2016.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Asia Bangkok Retreat 2018: day one images

    Citywire Asia Bangkok Retreat 2018: day one images

  • Citywire Asia Bangkok Retreat 2018: day two images

    Citywire Asia Bangkok Retreat 2018: day two images

  • Citywire Asia Taipei Retreat 2017: day two images

    Citywire Asia Taipei Retreat 2017: day two images

  • Citywire Asia Bangkok Retreat 2017: day one images

    Citywire Asia Bangkok Retreat 2017: day one images

  • Citywire Asia Bangkok Retreat 2017: day two images

    Citywire Asia Bangkok Retreat 2017: day two images

  • Images from Citywire Thailand Forum 2017

    Images from Citywire Thailand Forum 2017

  • Citywire Asia Awards 2017: images from Singapore

    Citywire Asia Awards 2017: images from Singapore

  • Citywire Asia Awards 2017: images from Hong Kong

    Citywire Asia Awards 2017: images from Hong Kong

  • Citywire Asia Taipei Retreat 2017: day one images

    Citywire Asia Taipei Retreat 2017: day one images

  • Citywire Asia Retreat in Bangkok: day two images

    Citywire Asia Retreat in Bangkok: day two images

  • Bangkok buzz: day 1 images from our Asia Retreat

    Bangkok buzz: day 1 images from our Asia Retreat

  • Images from Citywire's Thailand Forum

    Images from Citywire's Thailand Forum

  • Pictures from Citywire's Hong Kong forum

    Pictures from Citywire's Hong Kong forum

  • Images from our Citywire Singapore Forum

    Images from our Citywire Singapore Forum