Skandia has stopped trading HSBC’s £152 million (US$251 million) Frontier Markets fund from its platform due to the timing of its trading days and its inability to offer in daily liquidity.
The fund, which was launched in 2011 by Andrew Brudenel and currently open to investors on other platforms, will not be able to trade on Friday and therefore does not offer daily liquidity.
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A Skandia spokeswoman was cited by Investment Week as saying that the firm has decided to remove the fund from the platform as it does not adhere to the platform’s policy which states that funds should trade daily.
The fund has invested primarily in the Gulf States, Nigeria and Pakistan.
However, other platforms like Novia, AXA Elevate and FundsNetwork continue to offer the HSBC Frontier Markets fund for investors on their platforms.
Novia said that it has no plans to drop it, while FundsNetwork said that a Friday closure would not affect the choice of funds offered on its platform.
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