Deutsche Asset Management is set to shut down its Luxembourg-domiciled global equity fund after its assets fell below €3m, making the fund unworkable.
The Deutsche Concept Winton Global Equity fund, run on mandate by hedge fund group Winton Capital will be formally closed on August 16. It was launched as a Luxembourg-domiciled strategy in February 2012.
According to the latest Deutsche statistics, up to June 2016, the long-only Deutsche Concept Winton Global Equity fund had €2.7m in assets under management.
The Deutsche Concept Winton Global Equity fund returned 28.7% in euro terms over the three years to the end of June 2016. This compares to a 46.2% rise by its Citywire-assigned benchmark, the MSCI World TR USD, over the same period.
The fund has been overseen since launch by UK fund manager Winton Capital Management, which was founded by hedge fund specialist David Harding. Winton Capital Management currently manages assets of around €26.8bn.
Deutsche Asset Management were not available to comment on the impending closure.