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JO Hambro will cap UK opps fund at 1bn

JO Hambro Capital Management is introducing a UK opportunities fund to be run by former Newton UK opportunities manager John Wood.

The fund will take a two to four-year thematic approach to invest in a high-conviction portfolio of 30 to 40 growth stocks. It will not have a capitalistion bias and up to 10 per cent of the fund can be invested outside the UK.

This is the group’s third UK fund, positioned alongside its UK growth fund managed by Mark Costar and UK equity income fund man- aged by Clive Beagles. JOHCM closed Costar’s fund at 350m earlier this year to stop it getting too big to be run efficiently. It intends to close the new fund at 1bn.

Chief executive Nicola Pease says following the closure of Costar’s growth fund, it makes strategic sense to offer a complementary UK fund but that the bigger asset cap of 1bn gives Wood maximum flexibility in stock selection terms.

Minimum investment is 1,000. Charges are up to 5 per cent initial and 1.25 per cent annual. The fund will launch on November 30.

Wood says: “I am seeking out quality businesses that are attractively valued. My style is to identify trends and themes and the following wind that comes from that, for example, looking at demographics.”

Torquil Clark investments director Philippa Gee says: “All these new possible alternatives to Fidelity’s special situations fund are very int- eresting. Our clients tend to get exposure to boutiques such as JOHCM through the fund of funds route but this could well be a catalyst for changing that.”


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