Langford’s £6m fund is to be merged into Dryer’s £40m vehicle because its size is uneconomic, Aberdeen says. Both funds are Luxembourg Sicavs.
The Global World Bond Fund has returned 42.6% over the past three years versus a second average of 38.5%. The Global Sterling Corporate Bond offering has returned 13.6% versus a sector average of 23.3% over the same period.
“A fund of this size is uneconomic to run and the high fixed costs which all funds bear noticeably diminishes the potential return to shareholders,” Aberdeen said in a statement.
“As a result, the Directors have undertaken to merge the Aberdeen Global – Sterling Corporate Bond Fund with the Aberdeen Global – World Bond Fund.”
