The Luxembourg-based Sicav, which was launched in July 2008, had assets under management of €9.3m (£8.2m) at the end of June this year. The asset manager said that, due to the low level of assets under management, from 24 August, the Sarasin Global Village – Opportunistic will be closed.
Benedict Gratzil, head of communications at Sarasin Bank, said the long-only fund “doesn’t seem to be one investors are after” and its size meant it was “not worth muddling through” for either investors or the management firm.
It has written to its investors informing them of the decision, and they have until 23 August to cash in their shares with no redemption fee or reinvest in another fund.
The London-based asset management company manages approximately £13bn and specialises in three main areas – sustainable, thematic and quant. The Global Village Fund had sat within its thematic range.