OMGI to shut Japanese Equity fund following outflows

Offshore version remains open

Old Mutual Global Investors is set to shut its onshore Japanese Equity fund following a period of outflows which has led assets to fall below £20m.

The company said it is "no longer viable" to keep the £16.5m fund open, and will close it on 17 June. The UK-domiciled fund was launched in April 2012 and is co-managed by Amadeo Alentorn, Ian Heslop and Mike Servent. However, the ¥6.3bn (£40.7m), Dublin-domiciled Old Mutual Japanese Equity fund, which is also managed by the trio, will remain open. A spokesperson for the company said: "We have written to shareholders in the onshore Old Mutual Japanese Equity fund to notify them that it will be closing on 17 June 2016. Fund managers keep faith with Japan despite 'failure' of nega...