Neptune is closing two income funds – one run by founder Robin Geffen – due to low sales and high costs.
It has also tidied up share classes in several other funds.
The closure is subject to FCA approval.
The asset management house says the costs of shutting down the funds will be borne by the company, not the funds.
“Neptune regularly reviews its fund range to ensure it meets the requirements of investors,” the firm says.
“These funds have attracted lower-than-expected investor demand and the costs associated with running the portfolios mean it is no longer in the interest of shareholders to continue offering them.”
The Monthly Income fund, run by George Boyd-Brown and Ian Sealey, was launched in December 2012, while Geffen’s UK Higher Income fund was launched in September 2010.
Neptune is also closing the Emerging Markets A and B Income share classes, the Balanced Fund B Accumulation share class, and the Cautious Managed A Income share class. A number of other funds’ B shares will be changed to C share classes which have a lower annual management charge.
The changes are subject to FCA approval, but will come into effect on 1 March.