Hermes Investment Management is set to close Jonathan Pines’ Asia ex Japan fund to new investors from May 11.
The fund, launched in November 2012, has reached $1.5bn (£1bn) in assets under management (AUM), approaching the $2.5bn limit established at its inception in order to protect performance.
While new investors will not be able to buy units in the fund from May 11, existing shareholders will still be able to invest up to a maximum of $250,000, or the foreign-currency equivalent, per dealing day.
The fund has had a strong performance since launch, returning 23.3 per cent while its benchmark, the MSCI AC Asia ex Japan index, which has risen by 10.9 per, according to the January factsheet.
A spokesperson from Hermes said: “Capacity is key in these considerations...[the manager] has determined a maximum AUM at which he can maintain sufficient liquidity and execute his investment strategy without altering his preferred sizing of stock positions.
