Two former BMO funds will be shut due to low assets as funds are consolidated following Rob Burdett’s departure. : Columbia Threadneedle has shut two fund of funds as it consolidates its multi-asset range after the exit of Rob Burdett. While run by different teams, both the CT Diversified Monthly Income and Multi-Manager Investment Trust funds came over as part of the deal to buy BMO’s European business in 2021. Columbia Threadneedle ascribed the decision in both cases to dwindling assets in the funds making them sub-scale and inefficient to run, according to investor letters seen by Citywire.