Federated Hermes closes emerging markets fund to new investors

Takes effect from 15 June

Kathleen Gallagher
clock • 1 min read
Kunjal Gala's Global Emerging Markets Equity fund is closing to new business
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Kunjal Gala's Global Emerging Markets Equity fund is closing to new business

The £5.7bn Federated Hermes Global Emerging Markets Equity fund is closing to new investors from next month, the asset manager has confirmed.

A document seen by Investment Week says Hermes has made the decision in order to maintain liquidity as well as "portfolio characteristics".

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The closure will start on 15 June, but additional subscriptions will continue to be available to existing clients.

The fund, run by Kunjal Gala since September last year following the retirement of Gary Greenberg, has returned 53.9% over the past 12 months, compared to its MSCI Emerging Markets benchmark, which has returned 48.7% over the same time frame, according to the factsheet.

Since its launch in 2008, it has returned 13% compared to 10.3% from the benchmark.

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Offered to both institutional and retail investors, the portfolio is a new sub-fund of the Luxembourg UCITS Goldman Sachs Funds SICAV.

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