Hermes is to soft close Jonathan Pines' $1.5bn Asia ex-Japan equity fund in May as inflows into the product accelerate, Investment Week can reveal.
The fund group has contacted clients today to inform them it will restrict investment into the fund as of 11 May, because the portfolio is "nearing capacity". As of that date, the fund will be closed to new subscribers. Existing shareholders will be able to top up their individual holdings by a maximum of $250,000 (or foreign currency equivalent) per dealing day. Hermes said: "In conjunction with Jonathan Pines [pictured], portfolio manager, the [Hermes] Investment Office has determined a maximum AUM at which he can maintain sufficient liquidity and execute his investment strategy wit...
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