OMGI soft-closes Kerr's UK Dynamic Equity fund

Capacity concerns

Old Mutual Global Investors (OMGI) has soft-closed its UK Dynamic Equity fund, managed by Luke Kerr, amid capacity concerns for the £539m product.

The fund soft-closes with immediate effect, and OMGI has instructed clients to limit subscriptions and make the fund unavailable to customers, where possible. "The Old Mutual UK Dynamic Equity fund has had a limited capacity via a fixed number of shares in issue since inception, so that it can be maintained as a highly focussed best ideas portfolio," said Warren Tonkinson, managing director at the firm.  "As part of our ongoing capacity management, we have advised the fund's clients that we are limiting subscriptions. We believe this is in the best interest for all of the fund's inves...