Emerging market debt fund management boutique 1167 Capital is to close and return $374m of assets to investors, Investment Week has learned.
The firm, which was founded by Matthew Sethard-Wright, Michael Mabbutt, and Felix Martin in 2016, will return AUM invested across its three local currency government bond funds - the 1167 Active Funds ICAV Global High Income Bond, Total Return Bond and China Government Bond funds - following a minimum two-week notice period specified by the Bank of Ireland. According to a letter sent to investors on Thursday (21 April), a number of factors led to the business's decision to shut shop including the impact of the Russia-Ukraine crisis, lacklustre returns from EM local currency government bo...
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