(Bloomberg) -- Man Group Plc is closing its Spanish and Portuguese equity fund due to poor demand, three years after its launch.
The world's largest publicly traded hedge fund has decided to close the GLG Iberian Opportunities fund due to lack of demand, a company spokesperson said in response to a query from Bloomberg. Manager Firmino Morgado and his team will remain at the firm and will continue to manage the GLG European Income Opportunities strategy and develop new thematic strategies, the spokesperson said.
The fund, launched in 2017, had 16 million euros ($19 million) in assets as of December, according to data tracked by Bloomberg. Morgado joined Man Group in 2017, and had previously managed European and Iberian equities funds at Fidelity International.
©2021 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
