First State reopens Greater China Growth fund

Soft closed in 2012

First State is to reopen its soft closed Greater China Growth fund after four years.

The fund, which is managed by Martin Lau (pictured) and Sophia Li, was closed to new investors on January 2012 and a mandatory initial fee was imposed. This 4% initial fee will now be withdrawn from 25 February, due to outflows from the fund bringing assets down from £624m at the time of soft closure to £377m currently. The firm said it does not expect the charge to be introduced again in the short or medium term, but it will continue to monitor capacity. A statement from the firm said: "First State Investments is committed to prudently managing capacity across all investment strat...