Royal London closes top-performing Global Equity Select fund

The $360m fund gained much interest from investors since launch, but seeks to ‘maintain the integrity of its investment process’ by closing off new inflows

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Royal London has closed its Irish-domiciled Global Equity Select fund to new investors as of today in order to “maintain the integrity of its investment process”.

The fund is up 36.2% since it launched in late 2021, placing it well ahead of the 0.1% total return reported by the average IA Global fund. Indeed, it was the fourth best performing fund in its peer group over that period, making it an area of interest for many investors.

While many global funds suffered outflows in recent years, the Royal London Global Equity Select fund received fresh investment resulting in assets under management reaching $360m (£285m).

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However, given this high volume of inflows during a short time, the firm has closed it off to new investors, stating that it needs “to exercise controls to manage the capacity of the strategy in order to maintain the integrity of its investment process”.

Royal London’s chief distribution officer Rob Williams added: “Following a period of extremely strong interest in the Global Equity Select strategy, we have taken the decision to exercise controls over its capacity, with the best interests of our clients in mind.

“It ensures our investment team can retain its full opportunity set of potential investments across the world.”

Although the fund is shut off to new buyers, existing investors will be able to increase their positions.

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