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FNZC sells funds to Fisher
Friday 22nd of October 2010
FNZC investment director Malcolm Davie says the firm has decided to exit the retail equity managed fund business as it is becoming "increasingly complex and economies of scale are critical in helping to offset the costs incurred in managing funds."
The FNZC Abacus Alpha Fund, "while delivering satisfactory relative performance, has not grown sufficiently in total size to cover the costs...
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