Nordea Asset Management is set to close one its emerging markets fund to new investors, Citywire Selector has learned.
The Nordea 1 – Stable Emerging Markets Equity fund will soft-close on February 1. According to a letter to shareholders seen by Citywire Selector, the fund has attracted substantial flows over the years and it has now reached capacity.
Over three years to the end of December 2016 the Nordea 1- Stable Emerging Markets Equity fund lost 2.43% in US dollar terms. This compares to a fall of 6.42% by its Citywire-assigned benchmark, the MSCI EM (Emerging Markets) TR USD, over the same time frame.