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.

JO Hambro Capital forced to shut US equity arm

JO Hambro Capital forced to shut US equity arm

J O Hambro Capital Management (Johcm) is planning to close Gordon Elvey's JOHCM US Opportunities fund in spite of its decent performance.

The boutique is seeking unitholder approval to close the fund at the end of June. Johcm said that at around £22 million in assets the fund was no longer economical to run and that Elvey will leave the firm on its liquidation.  

Over the three years to the end of April Elvey has posted a 26.1% return with the US Opportunities fund, outperforming a 25.1% rise by the S&P 500 over the same period.

The decision comes three years after the firm closed its US mid-cap fund, which was managed by Nick Roe-Ely.   

Suzy Neubert, a marketing director at the firm explained: 'Despite its good long-term performance, we have been unable to achieve meaningful flows into this fund over the past five years. We need to devote our resources to funds which are commercially viable over the medium to long term.'

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

Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter