We are not even halfway through the year but already one of the big themes emerging for 2013 is the sheer number of prominent funds which have been soft-closed owing to capacity constraints.
Today Cazenove announced plans to stem inflows into Julie Dean's £2.5bn UK Opportunities and UK Equity funds, while Franklin Templeton also said it intends to close Mark Mobius' $2bn Templeton Frontier Markets fund to new clients next month. Earlier this year Investment Week called 2013 as a year set to feature a raft of soft-closures, with the so-called ‘great rotation' out of fixed income and into equities one of the main drivers in asset growth among leading equity funds. The increased polarisation of flows into the industry has also played its part, as intermediaries and wealth ma...
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