GLG to reopen top rated managers' Japan fund
After being closed since March, Euro Stars AA-rated managers' fund is now welcoming new investors.
by Atholl Simpson on Dec 06, 2012 at 11:01
GLG Partners has announced its intention to reopen its GLG Japan CoreAlpha Equity fund after closing it to new subscriptions in March this year.
Atherton joined the firm, owned by the Man Group, in March 2011 as a co-manager on the Japan CoreAlpha Equity fund.
The fund was originally closed at the end of March this year to protect existing investors against potential liquidity risk.
This followed strong inflows into the GLG Japan CoreAlpha strategy and a fall in the turnover of shares on the Tokyo Stock Exchange, according to GLG.
Commenting on its reopening, Richard Phillips, head of UK retail at Man Group, 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 re-opening 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.'
Since its inception in February 2010 the GLG Japan CoreAlpha Equity fund has posted negative returns of -9.6% while its benchmark, Topix TR, has risen 5.5%.
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