GLG has soft closed Stephen Harker's £1.1bn Japan CoreAlpha fund and the offshore version for a temporary period because of liquidity concerns in the Japanese market.
GLG said in a statement that the funds would soft close in six weeks time. It said: "GLG Partners ("GLG"), part of Man Group plc ("Man"), today announces its proposal to soft close the GLG Japan CoreAlpha and GLG Japan CoreAlpha Equity funds to new investors with effect from 30th March, subject to FSA and board approval respectively. "The funds will remain open to redemptions in the normal way." The group is acting now because of concerns the funds' strategies could be impacted by a lack of liquidity in Japanese equity markets. Richard Phillips, head of UK Retail at Man, said: "...
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