T. Bailey to Close Best Ideas Fund
08 Mar 2010
Nottingham-based boutique Fund Manager T. Bailey has announced the closure of it MultiManager UK Best Ideas Fund.
Low investor demand for the fund is behind the closure just over two-years after it launched. It is expected to be merged into the company's flagship growth fund by May, subject to shareholder approval.
Philippa Gee, head of Sales, Marketing and Communications for T. Bailey said "There are more than 300 funds in the Investment Management Association UK all companies sector and this one never really gained traction.
The fund has always been dwarfed by the T. Bailey Growth Fund, which carved a real niche in the market, delivering a successful global portfolio and now there is the T. Bailey Growth Fund Lite.
So it's all about positioning the business going forward, coming out with funds which fit investors' requirements and where we can deliver out-performance."
If you are currently invested in T.Bailey's UK Best Ideas fund, you can get more information on their growth fund. If you would like more fund options, please take a look at our Hero Fund List.
