Barclays Capital to close Radar fund

Barclays Capital plans to close the Barclays Capital Radar fund it launched four years ago owing to the portfolio’s small size.

The fund, which launched in February 2009 and sits in the IMA Targeted Return sector, has assets under management of just $9.8m (£6.4m).

Managed by head of portfolio management Ian Mizrahi and senior portfolio manager Jason Smith, the fund made fourth quartile returns in 2012 and was in the third quartile during 2011 and 2010, according to FE Analytics.

All investors in the fund have been informed and givent the option of redeeming shares or receiving net proceeds upon fund termination.

The fund invests in a wide range of global assets such as shares, fixed income, foreign exchange and money market instruments either directly or through as derivatives. Asset allocation is derived from quantitative macroeconomic and fundamental analysis.