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.'