Cantillon Capital Management will give $1.35 billion back to clients because it is unlikely to meet its targeted 15 percent annual return without taking a large risk, according to Investment News.
Investors will be allowed to take out all of their money or put 70 percent into another Cantillon fund.
Cantillon founder, William von Mueffling, told investors that it was closing its $1 billion technology fund and its $350 million healthcare funds in March.
The technology fund manager, Ben Guest says it’s been a challenge to find companies with share prices that aren’t overhauled, according to Financial News.
Cantillon currently has $9.5 billion under management.