Dutch asset manager NN Investment Partners is set to merge two sub-funds of its NN (B) Invest Sicav, its Belgian fund range.
In a letter to shareholders, the investment firm has proposed the merger of the NN (B) Invest Belgian High Dividend and NN (B) Invest Germany strategies into the NN (B) Invest Belgium fund as from 15 May 2017.
The NN (B) Invest Germany fund aims at capital growth by tracking a benchmark of the German stock market while the NN (B) Invest Belgian High Dividend invests in Belgian high dividend stocks.
NN Investment Partners highlights a significant drop in net assets of the Belgian High Dividend and Germany compartments and that the low amount of remaining assets is not enough to ensure an optimal management of the funds.
As of 10 February 2017, AUM of the NN (B) Invest Belgian High Dividend and the NN (B) Invest Germany amounted to €72.8m and €22.1m respectively according to Morningstar figures.
The NN (B) Invest Belgium fund, managed by Pierre Nicolas since 2005, aims at capital growth by tracking the Euronext BEL 20 Private Net Return EUR. It had €95.16m in assets under management as of 10 February 2017.