JOHCM soft closes two funds on capacity concerns

JOHCM soft closes two funds on capacity concerns

JO Hambro Capital Management (JOHCM) has confirmed the soft closure of its £1.9bn Global Select and £1.8bn European Select Values funds following a review of capacity conducted last year.

A 5 per cent front-end fee will be charged to new investors in order to discourage further flows into the two Dublin-domiciled funds.

Terms for existing investors, including third-party platforms and direct clients, will remain the same.

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Gavin Rochussen, chief executive of JOHCM, said: “Both funds have generated excellent long-term performance and therefore attracted a strong investor following.”

Mr Rochussen recommended the firm’s European Concentrated Value and Global Opportunities funds as alternatives for investors looking for pan-European equity and global equities exposure respectively.

However, the third fund which JOHCM said it was reviewing last year, the £1.6bn Continental European offering, will remain open to new investors.

A representative from JOHCM said: “There are no capacity concerns over the JOHCM Continental European fund. The fund remains open to new and existing investors.”

According to FE Analytics, the Global Select fund, managed by Christopher Lees and Nudgem Richyal, has delivered 29.4 per cent over three years, compared with 19.3 per cent from the Investment Association (IA) Global sector.

Over the same period the European Select Values portfolio, managed by Robrecht Wouters, has returned 26 per cent, compared with 20.8 per cent from the IA Europe including UK group.