In a letter to shareholders seen by Funding Week, the agency stated the International Property fund has change into “uneconomic to function” after its measurement was lowered by greater than half over the past 4 years resulting from outflows and market actions.
Dirk Philippa, who has managed the UK-domiciled International Property portfolio since 2013, will go away Constancy on the finish of March after 20 years on the agency. Within the interim interval between Dirk’s departure and the proposed merger, portfolio supervisor Akihiko Murai will handle the fund.
The proposed adjustments might be put to shareholders of the fund for approval …