Bellevue Asset Management has closed the Luxembourg-domiciled version of its generic drugs strategy, Citywire Switzerland's sister publication, Citywire Selector has learned.
The BB Adamant Generics Fund was liquidated to allow the portfolio management team to concentrate on its BB Adamant Global Generika fund.
This is the Swiss-domiciled version of the strategy which mirrors the approach of the closed fund. The Swiss version was launched in 2008 with the Luxembourg mirror opened in 2015.
According to the Lipper data the fund never gathered more than €24 million. This is while the existing Swiss version of the fund currently has €63 million under management and is run by Kubli, Cyrill Zimmermann and Zahide Donat.
The BB Adamant Global Generika has lost 19.51% in euro terms over the three years to the end of February 2018. Its Citywire-assigned benchhmark, MSCI World/Health Care TR, returned 4.83 over the same timeframe.