SINGAPORE (Dec 2): Several local fund investors found themselves in a peculiar predicament this year. After paying a front load of 1% to 5% to invest in a fund, they were informed that the fund would be closed.

They were given the option of either liquidating their holdings in a short time or switching for free to another fund managed by the same house. Needless to say, neither option was more attractive than the other.

For the first 10 months of 2016, at least four closures were seen among Singapore-registered funds. They included Amundi Bonus Builder fund, the Deutsche Invest I Emerging Markets Satellites fund, the Deutsche Singapore Small/Mid-Cap fund and the First State Global Agribusiness fund.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook