Nordea AM liquidates US Equity fund for lack of assets

Nordea Asset Management has liquidated the Nordea 1 – US Equity Market Neutral fund. The fund which was run externally by Chicago Equity Partners was closed for lack of assets under management.
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Nordea Asset Management has liquidated the Nordea 1 – US Equity Market Neutral fund. The fund which was run externally by Chicago Equity Partners by closed officially on 10 January 2020.

According to a shareholder note, the fund has not gathered sufficient assets and Nordea AM foresees limited prospects for future growth to operate it in an efficient manner long-term. The fund reached $22m in January 2020.

On another shareholder note, Nordea AUM has announced the decision to merge Nordea 1 – Global Dividend Fund with Nordea 1 – Global Listed Infrastructure Fund. The merger shall become effective on 25 February 2020. On the effective date, all assets and liabilities of the merging fund will be transferred to the receiving Fund. The merging fund will cease to exist as a result of the merger and will thereby be dissolved on the effective date without going into liquidation

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Nordea AM liquidates US Equity fund for lack of assets