Scottish Widows Investment Partnership (SWIP) is shutting five funds across Europe, Japan and North America, Financial Times reports. The group is closing the Steven Maxwell-led £10.6 million Pan-European Equity fund and the £15 million Pan-European SRI Equity fund. The move came after large redemptions by investors. Additionally, SWIP is also ending its £15.2 million Asia-Pacific fund managed by Ian Vose, the £13.5 million Japanese Smaller Companies fund led by Kaori Ishii and the £26.2 million North American Smaller Companies fund led by Nick Ford. The closure is followed by a review of fund management strategy.
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