Fund launches & closures

Fleming Family conducts review following closure of funds

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Fleming Family & Partners Capital Management is undertaking a ‘strategic review’ following the closure of two of its alternative UCITS funds.

The directors of FCM Funds have decided to liquidate two funds and return $155 million (€125 million) back to investors following outflows of investor capital and a difficult macro environment.

The Dublin-domiciled FCM European Opportunities Fund and FCM European Total Return Fund were run from Vienna by Guenter Ferstl and Reinhard Ploder.

A letter to shareholders states: “Following a period of extermely volatile markets and a very uncertain outlook for European equity investment, the directors of the company with to