Man GLG reopens Japan CoreAlpha fund

Man GLG has reopened its Japan CoreAlpha fund, run by Stephen Harker, saying liquidity has improved in the Japan markets meaning it can take on more investor money.

The fund manager placed a £1m daily investment restriction on the fund last year, but an increase in domestic and foreign institutional interest and corporate governance reforms have improved liquidity in Japanese equities, meaning this can now be lifted.

The strategy will remain unchanged, and will continue to be run by Harker and a team including Jeff Atherton, Neil Edwards and Adrian Edwards.

The £1.7bn onshore version of the fund has returned 50 per cent over the five years to the end of May, compared to its peer group average of 46.8 per cent, according to FE data. Returns over the past year have been 31.6 per cent, compared to the peer group of 26.4 per cent. 

The fund has an initial charge of 1.5 per cent and an ongoing fee of 1.7 per cent.