Invista to shut global securities fund-source

LONDON, Nov 12 (Reuters) - Invista Real Estate Investment Management, the troubled funds firm 55 percent owned by Lloyds, is closing its Global Securities Fund, a source said on Friday, as concerns about its future ownership swirl. A source familiar with the situation told Reuters the company had decided to shut down the fund "due to its corporate uncertainties". The fund is managed by Robert Promisel. A spokeswoman for Invista had no immediate comment to make on the proposed closure. On Oct. 12, the company said part-nationalised Lloyds Banking Group had terminated Invista's contract to manage a 2.4 billion-pound HBOS fund, which Invista's Chief Executive said could lead to a disposal of the funds manager. The HBOS funds represent nearly half of Invista's 5.4 billion pounds of total assets under management, and had contributed about 39 percent of its revenues in the first half. Three weeks later it said it had lost another major mandate from Northern Trust Fiduciary Services and Arnold Limited, which are trustees of a Invista-managed portfolio with 272 million pounds of residential assets. (Reporting by Sinead Cruise; Editing by Douwe Miedema and Andrew Macdonald) (See www.reutersrealestate.com for the global service for real estate professionals from Reuters) Keywords: INVISTA FUND/ (sinead.cruise@thomsonreuters.com; +44 (0)207 542 5154; Reuters Messaging: sinead.cruise.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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