JO Hambro Capital Managment has decided to introduce a 0.5 per cent charge for new investments from existing investors in its JOHCM UK equity income fund as part of its plan to stem flows into the vehicle.
The fund, managed by James Lowen and Clive Beagles, has garnered a large IFA following since its launch in 2004 and the group announced it was soft-closing the fund when it hit £750m in February 2011.
The fund now stands at £976m. The investment boutique has a policy of capping its funds at launch in order to help deliver and sustain performance.
The initial charge will be fully rebated back to the fund
The fund is currently second in the IMA UK equity income sector over three years having returned 42.2 per cent, compared to a sector average of 11.4 per cent.
A spokesman for the firm says the group will review the measure in time.