Royal London Asset Management has closed off a global equity fund to new investors following strong performance, the firm said.
The Irish-domiciled Royal London Global Equity Select Fund is part of the firm’s Global Equity Select strategy, which saw “significant inflows” from investors across the globe. A figure was not given.
Strong inflows led the firm to exercise controls to manage the capacity of the strategy in order to “maintain the integrity of its investment process”. Existing investors can still purchase shares in the fund.
The firm announced it was limiting the issuance of shares in its UK-domiciled Royal London Global Equity Select Fund in September 2023, partly to enable the strategy’s portfolio managers to maintain their ability to access all parts of the global equity market. As a result, both existing and new investors could no longer purchase shares in that UK-domiciled Fund.
Rob Williams, chief distribution officer at Royal London Asset Management, said: “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.
“We continue to see strong appetite for our range of global equity strategies and believe our suite of solutions is well placed to deliver highly attractive outcomes for investors over the long-term.”
