Hermes raises investment limit on soft-closed Asia ex-Japan fund

Daily limit raised to $10m

Hermes has increased the daily dealing restriction on its $1.4bn Asia ex-Japan Equity fund from $250,000 to $10m, after the vehicle was soft-closed earlier this year.

Jonathan Pines' fund was closed to new investors and top-ups were restricted to $250,000 in May when the strategy reached $1.5bn, after accelerated inflows created capacity worries. A spokesperson from Hermes said: "We have recently increased the maximum subsequent subscription amount to permit existing investors to invest more on a daily basis. "The limit was previously $250k per day and it has now increased to $10m per day. The fund is still closed to new investors." Can Hermes challenge First State and Aberdeen in Asia? The fund launched in October 2012 and grew to $1.3bn in...