GLG reaches capacity on share class

GLG Partners will close the standard share class on its UK Select fund after reaching its £150m AUM capacity.

Managed by renowned hedge fund duo John White and Jason Mackay, the long-only GLG UK Select fund will now only be available to investors through its performance fee share class. The share class has a 1% annual management charge, with a performance fee of 20% on the excess return over the FTSE All Share total return, with a high watermark. "Having just launched the fund about 12 weeks ago the level of interest has been extremely positive," GLG co-head of UK business Richard Phillips says. "It is an initial vote of confidence on the managers and on the strong track record they built ...