The GLG Japan CoreAlpha and CoreAlpha Equity funds will soft close to new clients with effect from 30 March 2012. Whilst GLG made this announcement today the funds will remain open in the normal way until this date for both investments and redemptions.
Why are the funds being closed to new investors?
Total turnover of shares on the Tokyo Stock Exchange significantly decreased in 2011. Meanwhile both funds continued to experience inflows and additional subscriptions from existing clients. The combination of these two factors has led GLG to decide that the Funds should not take any subscriptions from new investors.
How are existing investors affected?
After 30 March 2012 existing investors will only be able to make additional subscriptions to their existing holdings. The details are yet to be released by GLG and will be made known to us in coming weeks. At this point, when we know all the precise details, we will review the rating for the fund.
What will happen to money that has already been invested?
The existing investments will continue to be managed by the GLG Japan CoreAlpha team in the same way.
Investors may also like to consider alternative funds below:
Please note that current or historical yields should not be considered an indicator of future performance. Different funds have varying risks depending on the geographical area and industry sector in which they invest, and you should ensure you understand these risks before making the decision to invest or to switch your investments. The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally.