Soft-closed Stewart Investors emerging markets funds to reopen
Removal of 4% charge
St Andrews Partners of Stewart Investors is set to reopen a suite of global emerging markets funds which have remained soft-closed for a number of years to manage capacity.
From 1 July the firm's Global Emerging Markets Leaders, Global Emerging Markets and Latin America funds will reopen with their initial 4% charge removed to make them more accessible to new investors.
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Stewart Investors Global Emerging Markets Leaders currently has £945m in AUM, according to FE fundinfo, falling from a peak of almost £3bn August 2017.
Under lead manager Tom Prew and investing in stocks with a market cap of at least $1bn, the fund is down 17.3% and 14.9% over one and three years respectively, and is up 13.7% over five years, according to data from FE fundinfo. The fund sits in the IA Specialist sector, which has returned 6.9% and 32.1% over three and five years respectively.
Also sitting in the IA Specialist sector, the Global Emerging Markets fund currently has £161m in AUM, down from a peak of £720m in October 2018, and is down 20% and 14.6% over one and three years respectively. It has returned 32.1% over five years.
The MSCI Emerging Markets index, the benchmark for both funds, has returned 46.5% over five years.
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Meanwhile, the £121m AUM Stewart Investors Latin America fund has seen assets fall from around £227m as recently as August last year. It is down 25.3% and 15.5% over one and three years respectively, and has returned 27% over five years.
The fund's benchmark MSCI Emerging Markets Latin America has returned 6.7% over five years.
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