Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Vontobel shuts equity fund due to capacity concerns

Vontobel shuts equity fund due to capacity concerns

Vontobel Asset Management has closed its large-cap biased Swiss equity fund as its size has fallen below its required operational level.

The company, which has headquarters in Zurich, has opted to merge the Luxembourg-domiciled Vontobel Fund Swiss Stars Equity fund and into its Vontobel Fund Swiss M&S Cap Equity fund.

A spokesperson for Vontobel told Citywire Global the decision to close the Swiss Stars fund was driven by concerns over the volume of assets invested.

The spokesperson said: ‘The asset size of the fund was under the minimum volume and therefore an efficient management of the fund was not possible.’

‘The investment policies of the two funds were very similar, but the Vontobel Fund - Swiss Mid and Small Cap Equity is focusing on small and mid-caps.’

The Vontobel Fund Swiss Stars strategy had been overseen by Dejan Srejic since November 2011. He continues to run the Vontobel Swiss Equities fund and the mandate, Raiffeisen Fonds – SwissAc B.

At the time of closure the fund had CHF 34 million (€28 million) in assets under management, according to the fund's September 2012 factsheet.

The CHF 82 million (€68 million) Vontobel Fund Swiss M&S Cap Equity fund is run by the firm’s head of Swiss equities, Marc Hänni.  

It has returned 0.9% over the past three years in Swiss francs terms. This compares to its Citywire benchmark, the Swiss Performance Index Small & Mid TR, which has risen 13.1% over the same period.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Zurich

    Citywire Zurich

  • Citywire Deutschland

    Citywire Deutschland

  • Citywire Singapore

    Citywire Singapore

  • Citywire Maastricht 2013

    Citywire Maastricht 2013

  • Citywire Stockholm

    Citywire Stockholm

  • Citywire Montreux 2013

    Citywire Montreux 2013

  • Citywire Hong Kong

    Citywire Hong Kong

  • Citywire Zurich

    Citywire Zurich

  • Citywire Deutschland

    Citywire Deutschland

  • Citywire Monreux 2013

    Citywire Monreux 2013

  • Citywire Montreux 2013

    Citywire Montreux 2013

  • Citywire Singapore 2013

    Citywire Singapore 2013

  • Citywire Singapore 2013

    Citywire Singapore 2013