Bank of New York Mellon to soft-close Stanic's fund

Bank of New York Mellon plans to soft-close Alex Stanic's Newton Global Opportunities fund. The fu...

Bank of New York Mellon plans to soft-close Alex Stanic’s Newton Global Opportunities fund. The fund, which launched in July 2005 and has £1.8bn in its strategy, will close on 18 April. The group said Stanic has become increasingly concerned about maintaining performance if the fund grows too rapidly. The soft-closure will only allow existing investors to invest additional money into the fund. Over 12 months, the £433m portfolio, which sits in the Global Growth sector, returned 7.1% against a sector average of -3.2%, ranking eight out of 162, according to figures from Morningstar.