Cazenove has confirmed it is moving to stem flows into Julie Dean's UK Opportunities and offshore UK Equity fund as assets in the strategy approach £2.5bn.
Investment Week revealed in April that Cazenove, soon to be acquired by Schroders, wanted to limit inflows in the funds. The aim is to ensure inflows do not affect liquidity or impede the performance of the portfolio, which has heavy exposure to small and mid caps. Cazenove said the two funds will remain open and available on current platforms for now, but it will not actively pursue new assets and will discourage new flows from wealth managers with immediate effect. If this does not do enough to stem flows, the firm said it will look to hard-close the strategy. The group said: ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
