Marlborough launches offshore feeder for Hargreave's Special Sits fund

Marlborough has opened up Giles Hargreave's popular £640m Special Situations fund to offshore investors after launching a Guernsey-domiciled feeder fund providing access to the strategy.

Marlborough said the feeder fund will allow offshore investors to buy into the UK-based portfolio for the first time. Hargreave's Marlborough Special Situations fund is one of the best performing small cap funds in the market, returning 82% over three years to May 31, ahead of the IMA UK Smaller Company sector average return of 64.9%, according to Morningstar. The popularity of the fund has forced the manager to move up the market cap spectrum to boost liquidity following a wave of inflows. Assets under management have more than doubled over the past two years, rising from £224m in...