R&M soft closes Rodrigs' UK smaller companies fund

River & Mercantile Asset Management is soft closing Philip Rodrigs' UK Equity Smaller Companies fund following strong inflows during the past year.

Over the past 12 months the fund has grown from £350m last June to around £550m, meaning the portfolio has now been closed to new investors with immediate effect. New investors wishing to buy the fund will pay a 5.25% initial charge and be subject to a minimum investment of £2.5m. The group had previously issued a note to clients last year addressing capacity considerations, saying the fund would be soft closed around the £550m mark. The fund was taken over last September by Rodrigs (pictured), who joined the group from Investec where he managed a similar UK small cap fund. Over...