The Melchior Japan Opportunities and UK Opportunities funds are to close once approval has been given by the Financial Services Authority. This will allow the company to focus on its Japan Advantage, Global Equity and Asian, North American Opportunities funds.
Launched in November 2003, the Japan Opportunities Fund has little more than £1.3m in assets under management and is actually 23% down since inception.
The management of the fund is outsourced to FuNNeX Asset Management, under chief investment officer Ken Nishizawa and portfolio manager Shingo Sugiura.
Glen Pratt, portfolio manager of the £3.9m UK Opportunities Fund, will remain with Dalton Strategic Partnership.
Magnus Spence, managing partner, explained: “By closing those funds which have not performed well over an extended period of time, the firm is able to focus its efforts more closely on a smaller range of top-performing strategies which include both equity long/short and institutional quality long-only funds.”
