Schroders is to hard-close its US Mid Cap fund due to soaring inflows.
The fund, which has been run by Jenny Jones in New York since inception, has seen assets under management rise to $4.5bn (£2.76bn) as investors' appetite for developed market equities increases. It was soft-closed in December 2010 when assets in the onshore US Mid Cap fund and ISF US Small and Mid Cap Equity fund reached over $4bn following increased inflows from European clients. Robin Stoakley, Schroders' managing director, UK intermediary, says: "Due to the specialist investment approach employed by the US Mid Cap fund, we have consistently stated that the total capacity of the US ...
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