Schroders has hard-closed its $6.1 billion (3.1 billion) Alternative Solutions Agriculture fund. As Fund Strategy reported (January 28) Schroders soft-closed the fund in January when it had $3.3 billion (1.7 billion) of assets under management. In the 17 months since launch the fund has proved popular as investors rush to take advantage of exposure to alternative assets.
The Luxembourg-domiciled fund, managed by Rodolphe Roche, was launched in October 2006. The actively managed long-only fund, which stopped accepting new investment last week, has posted returns of 49.5% to date.
The level of demand was unsurprising says Robin Stoakley, managing director of Schroders UK retail business. “This is a unique fund in the marketplace,” he says. “So this was the last chance for investors to get involved. We saw global demand from the UK, Europe and especially Asia.”