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Thames River closes offshore global boutiques fund

Thames River has closed the Dublin-domiciled version of its global boutiques fund because of its small size.

The £2.2m Thames River global boutiques fund, which is managed by Gary Potter and Rob Burdett, will close as there is “no evidence of any substantial new subscriptions on the horizon”.

A statement to the Irish Stock Exchange explains: “This decision has been made because the fund has remained small in size and consequently the fund’s expenses have a greater effect on returns to shareholders than is desirable.”

The fund will be closed to new investors with immediate effect and the portfolio will be liquidated by July 18, then held in cash during the formal notice period.

Shareholders electing to receive cash after the fund’s closure are expected to see their settlement by August 15, although they have the option of switching into other Thames River funds.

The £63m onshore Thames River global boutiques fund, which is also managed by Potter and Burdett, is not affected by the closure.

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