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

Natalie Kenway
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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...

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