JOHCM aims to raise £300m for Beagles' fund after scrapping fees

JO Hambro Capital Management has removed the initial charge on its top performing UK Equity Income fund, managed by Clive Beagles and James Lowen, in a bid to raise up to £300m.

Last year the fund was soft-closed to new investors when assets under management surged past the previous cap of £750m in February. The group imposed the closure to protect the managers' investment approach, with Beagles and Lowen typically focusing more on smaller companies than many peers. JOHCM imposed an initial charge of 5% but inflows continued and pushed the fund above the £800m mark. In response, charges were also applied to existing investors in May, while the fund cap was raised to £1bn, as reported by Investment Week. However, since last summer the fund has seen inflows ...