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Martin Currie has officially closed its Pan European Alpha fund in the latest development in the on-going reshuffle at the investment firm.
The €6 million European equity fund was closed on January 31 with the company citing poor performance as among the reasons for its closure.
It is to be turned into a European income fund and run by manager Ross Watson, as reported by Citywire Global back in November following the departure of its previous manager Pal Chidambaram.
He served as the fund's lead manager and left Martin Currie at the very start of 2012.
Chidambaram’s co-manager on the fund, Eric Woehrling, left the firm in September 2011 and the pair had co-managed the fund since May 2010, taking over from Stewart Higgins.
Over the past three years, the Pan European Alpha fund returned 36.81% while its Citywire benchmark, the FTSE Europe TR, returned 47.6%.
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