What does it mean for a fund to be hard closed? What is fund closure? (SG)
Fund managers can decide to close the fund to new investments for many different reasons such as the fund may be winding down or it has reached some specified amount of assets that precludes it from taking in more money. An example would be UOB United Global Quality Growth Fund (ISIN:SG9999017495), with the underlying Wellington Global Quality Growth Fund.
In such situations, we would inform you in advance of the implication(s) the fund closure has on your portfolio and the possible steps you can take to mitigate any risks. Additionally, we would also provide recommendations on similar replacement funds that you can reinvest into.