Guinness to close 0.25% Global Equity Income share class to new investment

Guinness Asset Management is to close the 'Z" share class on its Global Equity Income fund to new investment as of the end of April.

Guinness made the share class - which has an AMC of 0.25% and a TER of 0.74% - available to investors in late 2012, and said the then-$25m fund would continue to offer the share class until assets reached $150m. With the fund having since grown to $120m (£78m) in size, Guinness is now planning to close the Z share class to all new investors other than registered charities on 30 April 2015. Investors will then only be able to access the fund via the X share class, which has a TER of 1.24%. Existing investments will retain the 0.25% AMC in perpetuity. The boutique will now look to re...