Aktia's emerging market funds take a blow from star-manager resignations

Redemptions worth hundreds of millions of euros from Aktia's three emerging markets funds followed the resignation of key personnel from the company's emerging debt unit in February.

Photo: Pexels: Chris Economou.

Redemptions worth hundreds of millions of euros took place in February at Aktia's emerging market funds after three of its portfolio managers and two analysts resigned from the company's emerging debt unit, reports Finnish business daily Kauppalehti.

Negative fund flow in the company's three funds totaled EUR 315m. Aktia Emerging Market Local Currency Frontier Bond+ lost most of the three funds; redemptions reduced its net asset value by 27 percent.

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