The £36.5m SICAV will be closed on 24 November, and existing investors will be given the opportunity to transfer into the larger, comparable Standard Life China SICAV, which has seen first quartile performance over one, three, and five years.
A spokesperson at SLI said: “This is a small fund and it is not economically viable to continue the fund at its current size.”
The Luxembourg-domiciled Ignis China Fund is managed by Magdalene Miller, and aims to provide long term capital growth by investing in shares of companies from China.
It has seen five year returns of 57.9% compared to a sector average of 41.6%, and has a minimum initial investment of €300,000, a minimum top up of €1000 and an FE Crown Fund Rating of 4.
Click here to see a factsheet about the fund.
The Standard Life China SICAV contains $135.9m and is also managed by Magdalene Miller.
Also domiciled in Luxembourg, it has a minimum investment of $1000, a standard initial charge of 5% and an annual management charge of 1.8%.
It has seen five year returns of 25.7% relative to a sector average of 8.7%.
Graph comparing five year performance of Ignis China Fund and Standard Life China SICAV
true
