JO Hambro Capital Management (JOHCM) plans to close its Japan fund after a period of significant redemptions.
The £78.2m fund, which launched in 2004 and has been managed by Scot McGlashan and Ruth Nash, has seen its assets fall from £457.3m in 2018, prompting the firm’s decision to wind up the portfolio.
Following the closure, which is slated for 19 July and subject to shareholder approval, both McGlashan and Nash will leave JOHCM.
A spokesperson for the company said: “After careful review and having considered all available options, we have decided to close the JOHCM Japan Fund, subject to shareholder approval.
“We took this decision because we believe there is little prospect of rebuilding the fund to a commercially viable level.”
According to the latest factsheet, the fund has lost 2.8% over three years, compared to an 11.38% return for its Topix TR benchmark index.
This article was written by freelance journalist Jenny Turton
