JO Hambro Capital Management has reopened its offshore £474m continental European and £178m European funds after re-evaluating the capacity levels on the range.
Both funds closed in March 2006 after reaching their initial joint capacity of £500m but managers Rod Marsden and Paul Wild now believe that level can be raised to £1.2bn.
After back-testing the funds, the firm acknowledges that closure at £500m was a conservative move, given the growth of the market. Marsden says the funds can manage extra capacity without affecting performance, with research indicating the funds would have stayed top quartile over three and five years since launch if they had been managed with more assets.
Chelsea Financial Services managing director Darius McDermott says: “These two European funds have both been strong performers for JO Hambro in the past and if they were not offshore, we would have recommended them. Having decided to reopen them, their performance indicates these are funds we should look at.”