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.
Citywire TV
Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: Affinity’s Julia Warrander on the importance of diversity

1 Comment Profile: Affinity’s Julia Warrander on the importance of diversity

'Sometimes there are 10, sometimes 20 people around a table and, more often than not, I’m the only woman,' says the Affinity Wealth co-chief investment officer

Wealth Manager on Twitter