Closed-end Cazenove investors vote for winding up
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Investors in the closed-end Cazenove Absolute Equity fund have voted in favour of winding up the fund, in favour of receiving cash or rolling into another fund.
The annual general meeting saw a continuation vote defeated, and will see some investors rolled over into the open-ended Cazenove Absolute UK Dynamic fund.
The proposals were announced earlier this month, with fixed costs associated with the move set to cost £325,000 in fees to third party providers and service providers.
The closed-end fund invested in a number of long-short equity funds. The £253.5m Cazenove Absolute Equity fund is managed by Paul Marriage and John Warren.
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