Opalesque Industry Update – GLG Partners, part of Man Group plc, proposes to reopen the GLG Japan CoreAlpha and GLG Japan CoreAlpha Equity funds to new investors with effect from Monday 10 December, following relevant approvals.|
Managed by leading Japanese equity managers Stephen Harker, Neil Edwards and Jeffrey Atherton, the UK and Irish-domiciled Funds temporarily closed to new subscriptions from new investors on 30 March 2012 to protect existing investors against potential liquidity risk following strong inflows into the GLG Japan CoreAlpha strategy and a fall in the turnover of shares on the Tokyo Stock Exchange.
Richard Phillips, Head of UK Retail at Man, said: “The soft closure was a precautionary and temporary measure. We believe there is currently sufficient capacity available to open the strategy again to new investors. This decision has been considered carefully and we believe that re-opening the strategy would pose no potential risk to performance at this time and we are pleased to make the Funds available again to new investors.”
Man is a world-leading alternative investment management business. Today, Man Group plc is listed on the London Stock Exchange and is a member of the FTSE 250 Index with a market capitalisation of around £1.5 billion. www.man.com.