ABN Amro Investment Solutions is to liquidate its Neuflize Income $ fund on 14 December 2017, the company has announced.
The manager said that assets of the France-domiciled fund, launched in 2010 and invested primarily in fixed income and money markets, have plummeted, following massive outflows, to a level that does not enable the firm to run the strategy effectively. As of 11 December 2017, the Neuflize Income $ fund had €7.78m of assets under management.
ABN Amro Investment Solutions first waited for new subscriptions to the fund, having blocked all subscriptions and share buybacks operations since 8 November, before it decided to scrap it. French financial market regulator AMF approved the liquidation of the fund on 4 December 2017.
As of 30 April 2017, ABN Amro Investment Solutions’ assets under management and advisory amounted to €35.2bn.