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JO Hambro introduces performing fees on Isa wrapper

JO Hambro Capital Management is set to bring performance-related char-ges to the mainstream retail market with a new Isa wrapper for its Dublin-based fund range.

JOHCM made its first major push into the retail arena in November, with the launch of four open-ended funds – the European, UK growth, UK emer-ging companies and UK recovery funds.

Based on its belief that the best performance can only come from truly motivated managers, the group was keen to launch funds with performance charges. However, with the use of performance fees banned in any of the UK&#39s onshore fund vehicles, the group was forced to register its new funds in Dublin.

The company now has plans to introduce an Isa wrapper for its Dublin-range later this year, making them more easily accessible to the retail investor.

UK growth manager Mark Costar and European manager Rod Marsden are both among the top managers in their field, demonstrating consistent index outperformance both at JOHCM and in their previous positions at Clerical Medical and Sanwa.

JOHCM sales and marketing director Andrew Smelt says: “We think performance fees are the future, because groups will be held more accountable for their performance going forward.

“Gartmore has tried to introduce a similar system, by discounting some of the annual management fee for poor performance on certain funds but we think that it should be the other way round – where managers are rewarded for good performance.”

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