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JO Hambro re-opens European funds

JO Hambro Capital Management has re-opened its offshore £474m continental European and £178m European funds after re-evaluating the capacity levels on the range.

Both funds closed back in March 2006 after reaching their initial capacity of £500m, however managers Rod Marsden and Paul Wild now believe that level can be upped to £1.2bn.

Following back testing of the funds, the group has acknowledged that closure at £500m was a conservative move, given the growth of the UK market.

Marsden says the funds can manage the additional capacity without performance being affected, with research from the group indicating the funds would have stayed top-quartile over three, five years and since launch should they have been managed with the larger proportion of assets.

Hargreaves Lansdown analyst Meera Patel says: “These are arguably two of JO Hambro’s biggest funds and considering their performance I am surprised the group has not made a bigger song and dance about it, particularly when you consider the performance of some of the other funds in the range.”

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