View more on these topics

GLG to reopen Japan CoreAlpha funds

GLG Partners is reopening the £855m GLG Japan CoreAlpha and offshore £719m GLG Japan CoreAlpha Equity funds to new investors.

The funds, which are managed by Stephen Harker, Neil Edwards and Jeffrey Atherton, will re-open to new investors on 10 December.

They were soft-closed to new investors on 30 March to protect existing investors against potential liquidity risk following strong inflows into the GLG Japan CoreAlpha strategy and a fall in the turnover of shares on the Tokyo Stock Exchange.

Man head of UK retail Richard Phillips says: “The soft closure was a precautionary and temporary measure. We believe there is currently sufficient capacity available to open the strategy again to new investors.

“This decision has been considered carefully and we believe that re-opening the strategy would pose no potential risk to performance at this time and we are pleased to make the funds available again to new investors.”

Whitechurch Securities head of research Ben Willis says GLG’s short-term performance has not been great.

He says: “Japan has not been a very popular market for several years now and the GLG team’s reputation has been tarnished by the last couple of years’ performance.

“However, over the long-term the track record is intact and so with the fund at a low and open for business, for investors with a contrarian perspective and looking to gain Japanese equity exposure, now could be a good time to invest.”

Recommended

Skandia cuts 20 roles in adviser sales team restructure

Skandia has cut its adviser sales team from 100 to 80 as part of a restructure. The firm, which is part of Old Mutual Wealth, says the restructure will see the sales division divided into two new roles; wealth management consultants and development consultants. Skandia says the wealth management consultants will work with advisers to […]

Emma Simon MM blog
8

Emma Simon: The crime thriller where no-one gets caught?

There is a saying that truth is hard to tell, sometimes it needs fiction to make it plausible. Last week saw the publication of a detective novel – written by one of the journalists who founded this magazine no less – which is set amid the ruins of a collapsed pension scheme. The financial crisis […]

1

Spike in gold price predicted before year end

Armstrong Investment Managers predicts the price of gold could soar by 15 per cent by the end of the year The firm has increased gold exposure in the £10.9m Diversified Dynamic Solution and £49.3m Diversified Real Return funds by around 3 per cent in anticipation of a hike in gold prices due to an expected […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com