Belgian investment firm Degroof Petercam Asset Management will consider the dissolution of two funds next 18 June at the occasion of extraordinary general meetings, InvestmentEurope has learned.
The two funds that are concerned by a possible liquidation are the DPAM Invest B Equities US Dividend and the DPAM Horizon B Bonds EUR Quality Short Term funds.
The former, which tallied €16.98m in AUM as of end April 2018, mainly invests in companies having their registered office and/or a significant part of their assets, activities, profit centres or decision-making centres in North America and generating a dividend yield or an expected dividend yield higher then the American market average.
In a shareholder notice seen by InvestmentEurope, DPAM argues that the low level of assets under management of the funds renders difficult an efficient management of the portfolio.
Similar explanation is provided for the eventual liquidation of the DPAM Horizon B Bonds EUR Quality Short Term fund, worth €46.90m as of 30 April 2018. The company adds that the compartment does not arouse investors’ interest anymore.
The fund is mainly invested in euro-denominated investment grade bonds with a maturity that does not exceed three years.