Aberdeen Asset Management closed 28 funds last year, more than any other investment firm, following the acquisition of Scottish Widows Investment Partnership.
The asset manager closed 22 Aberdeen funds in 2015 and six Scottish Widows funds, however 20 of those funds were merged into existing funds, Morningstar data shows.
The data shows that 172 new funds were established last year, while 141 were closed in the year.
Aberdeen was also the asset manager to launch the largest number of funds, at 21 for the year.
The asset manager’s fund launches included four multi-asset funds, an absolute return fund and five sterling bond funds.
Aberdeen is attempting to diversify its product range away from emerging market funds, which have been hit by heavy investor redemptions and drops in performance.
Asset manager takeovers accounted for more fund closures last year, with a number of Ignis funds closing as a result of its takeover by Standard Life Investments. Most of these nine fund closures were merged into existing SLI funds.
Martin Currie, which was taken over by Legg Mason in 2014, also saw a number of closures, with five funds closed and merged into other Legg funds.
Threadneedle chalked up a large number of closures, when its seven-strong multi-manager range was taken over by 7IM and merged into existing funds.
For pure liquidations, rather than mergers, River & Mercantile ranked highly, closing five of its global funds in March and April last year. Three global funds were closed amid a wave of outflows that saw fund manager Alex Stanic leave the group.
The trend to launch multi-asset funds continued last year, with 43 per cent of new fund launches falling into Morningstar’s Allocation categories, which denote mixed asset funds.
Within the 62 funds launched in the equity space, 30 per cent were in global equity.