Man Group PLC (LSE:EMG) has dissolved a sustainable fund that was launched just 18 months ago, according to reports.
The sustainable water and circular economy fund, which had US$41.3 million of capital on inception but just US$16.7 million by the midpoint of this year, has now been liquidated, Citywire Wealth Manager reported.
That fund was set up in February 2022 by Man Group's discretionary fund manager Man GLG primarily to invest in companies attempting to solve the problem of water scarcity that could aid with water supply and treatment.
The fund's co-managers Yohann Terry and Jann Breitenmoser have now left the business.