Barings soft closes European Select fund after assets triple

EU-Euro-Europe-Eurozone-700x450.jpgBarings Asset Management has soft closed the £1.5bn European Select Trust after its assets tripled in the past five years.

The asset manager said it while the fund, which is run by Nick Williams, can manage a higher level of assets, it wants to manage further inflows.

As of 23 March the fund now has a limited issue status, meaning it will not accept subscriptions from new customers nor add the fund to any new platforms. However, the manager says it will allow existing investors and platform partners to invest more money.

Rod Aldridge, head of EMEA wholesale distribution at Barings, says: “We are conscious of our duty to investors to manage the growth in assets across our European smaller company product range responsibly. The assets run by Nick Williams and the smaller company team have tripled over the past five years and are now in excess of £1.5bn.

“We review investment capacity regularly, and have recently repeated this exercise for our European smaller company range. Our conclusion is that the investment process followed in the funds can support a higher level of assets but that it would be prudent to manage further inflows as assets rise.”

“By acting now to protect the interests of our existing investors, we retain room to grow the current book of business organically from existing relationships.”