Chrysalis Looks to Drop Managers as UK Fund Sells Assets

Chrysalis Investment Ltd.’s fund managers have pushed back against a plan that would see them lose control as the London-listed fintech fund sells down its portfolio after years of underperformance.

The board plans to divest Chrysalis’ holdings and return cash to shareholders over the next few years, it said Friday. As part of the move, the board is looking to end the current advisory arrangement with its investment manager, which receives £4.5 million ($6.1 million) per year.