glg to reopen japan corealpha funds

GLG Partners plans to reopen its two GLG Japan CoreAlpha funds to new investors from next week.

glg to reopen japan corealpha funds


The asset manager said it intends to open the £892.7m GLG Japan CoreAlpha Fund and the offshore £719.7m GLG Japan CoreAlpha Equity Fund from 10 December, subject to the relevant approvals.

Both funds were closed to new investors at the end of March after strong inflows to the strategy and a fall in the turnover of shares on the Tokyo Stock Exchange led to concerns about potential liquidity risk.

Richard Phillips, head of UK retail at Man, which owns GLG, said: “The soft closure was a precautionary and temporary measure. We believe there is currently sufficient capacity available to open the strategy again to new investors.

“This decision has been considered carefully and we believe that reopening the strategy would pose no potential risk to performance at this time and we are pleased to make the funds available again to new investors.”

The UK-domiciled GLG Japan CoreAlpha Fund is ranked first quartile over five years and since launch in November 1999. However, performance is muted over more recent timeframes, with the fund in the fourth quartile over one and three years.

Stephen Harker, Neil Edwards and Jeffrey Atherton run both portfolios.


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