Ninety One to merge pair of Alastair Mundy’s shrinking funds
UK Total Return has been combined with UK Special Situations after losing over 80% of its assets in 2020
Ninety One has merged a pair of Alastair Mundy’s former funds after both saw assets shrivel during the pandemic.
An announcement posted to the fund group’s website confirmed it had combined the Ninety One UK Total Return fund with the UK Special Situations fund at the end of February.
Explaining its decision Ninety One said UK Total Return’s size “has declined significantly to the point that it is no longer economically viable and is not expected to grow.”