JPMorgan Asset Management is limiting issue arrangements to its UK dynamic fund.
The fund will close when its capacity of 610m shares is met. This represents around 30-40m. JPMAM says the decision has been taken to protect the fund’s existing investors and anticipates reaching the ceiling in early February.
The fund is managed by Ajay Gambhir and the firm’s higher alpha team.
Existing savings plans, whether directly into the fund or through an Isa will continue as normal but no new regular savings plans will be accepted after the capacity has been met.
JPMAM head of UK retail sales Jasper Berens says: “The fund’s popularity means it is vital to limit capacity to ensure we can continue to deliver strong performance to existing investors.”