Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Beagles' UK income fund reopens with no initial fee

Beagles' UK income fund reopens with no initial fee

JO Hambro Capital Management has removed the 5% initial charge for new investors on its UK Equity Income fund run by Clive Beagles and James Lowen, in a move that will see the vehicle reopen.

The £930 million fund was soft-closed in February last year after surpassing £750 million in assets, a cap which was established at the fund's inception in 2004 to ensure liquidity could be preserved.

However, JOHCM has decided to reopen the popular vehicle and has removed the 5% initial charge to encourage new investor money.  The move comes at a time when fund flows are subdued due to the volatility in equity markets.

Philip Lund, investment communications manager at JOHCM, said: ‘It’s a tough environment for equities. Plus, the fund has a dividend going out at the end of the month, of around £50 million. There are also natural outflows with asset allocation… so there is a need for inflows to up the fund.’

He added that Beagles and Lowen have been keeping an eye on liquidity and have been able to manage the fund with assets nearly reaching £1 billion.

The fund returned 58.57% over three years to the end of December compared with the FTSE All Share Total Return index’s 43.85%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Clive Beagles
Clive Beagles
75/81 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 13.43%
James Lowen
James Lowen
74/81 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 13.43%
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter