Guinness to close 0.25% Global Equity Income share class to new investment

Natalie Kenway
clock

Guinness Asset Management is to close the 'Z" share class on its Global Equity Income fund to new investment as of the end of April.

Guinness made the share class - which has an AMC of 0.25% and a TER of 0.74% - available to investors in late 2012, and said the then-$25m fund would continue to offer the share class until assets reached $150m. With the fund having since grown to $120m (£78m) in size, Guinness is now planning to close the Z share class to all new investors other than registered charities on 30 April 2015. Investors will then only be able to access the fund via the X share class, which has a TER of 1.24%. Existing investments will retain the 0.25% AMC in perpetuity. The boutique will now look to re...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

UK equity funds suffer highest monthly outflow on record
UK

UK equity funds suffer highest monthly outflow on record

Amid 'stabilising' investor confidence

clock 11 July 2024 • 1 min read
Quilter calls for simplification as Labour backs GB ISA proposals
UK

Quilter calls for simplification as Labour backs GB ISA proposals

‘Drastic improvement’

Cristian Angeloni
clock 28 May 2024 • 2 min read
Cooling UK labour market keeps hope of summer rate cuts alive
UK

Cooling UK labour market keeps hope of summer rate cuts alive

Wages remain strong

Eve Maddock-Jones
clock 14 May 2024 • 2 min read
Trustpilot