Macquarie to Shut Singapore Infrastructure Fund on Outlook
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Macquarie Group Ltd. plans to shut its Singapore-listed infrastructure fund after selling assets including a port and highway in China because it doesn’t expect its share price to reflect the value of its holdings.
Macquarie International Infrastructure Fund will distribute excess cash as a special dividend and divest three assets following a review by its adviser CIMB Group Holdings Bhd. The fund has about S$60 million ($49 million) in cash, according to Chairman Chiang Meng Heng.