The closure decision follows fears over possible fall in assets under management (AuM) to EUR5 million after the redemption of the shareholder. The AuM stood at EUR6.8 million as at July end, according to Investmentweek.
A statement said: "The directors have reluctantly concluded it is no longer economically viable for the fund to operate, and therefore resolved to liquidate the fund."
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All subscriptions to the fund will be suspended and switches into any other sub-fund in the Henderson Gartmore SICAV range will be offered free of initial charge.
The offshore version of the fund was supposed to be merged into the Henderson Horizon China fund, which was run by Andrew Mattock and Caroline Maurer, during Gartmore acquisition.
Currently, the onshore version of the Henderson Gartmore China Opportunities fund has GBP701.2 million of AuM.
According to a local newspaper report, more than 10 mutual funds have extended their fundraising period, with one even making a second extension, since last year.
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By GlobalDataOverall confidence in the market is so weak that some fund management companies have even failed to raise the minimum threshold of 200 million yuan (US$31.30 million) in August this year.
We thus believe that the Henderson’s closure of the China Opportunities fund is a wise move.
