Beagles raises cap to £1bn on UK Equity Income

JO Hambro Capital Management's Clive Beagles has raised the cap on his UK Equity Income fund to £1bn.

The fund was soft-closed at £750m recently with the group introducing a 5% creation charge to deter new clients, but it has continued to climb in value. It now stands at £863m, but will be allowed to grow to £1bn to account for the rise in the benchmark FTSE All Share by 30% since the fund launched in 2004. Beagles said: “When we passed the £750m mark in February, we thought we would let existing investors continue, but new investors would have to pay a 5% creation charge. So we are happy to let the fund drift to £1bn. “We do not want to make it another multi-billion fund with the ...