UK - Gartmore Investment Management is to close its Japanese equities long-short hedge fund at the end of the month due to capacity constraints.
Gartmore’s AlphaGen Hokuto Fund will be closed to new investors from May as it is due to reach its $250m (£139.8m) capacity limit.
The fund currently has £128.7m in investments from schemes and other institutional investors, of which £39.1m has been raised over the past six months.
The Hokuto fund is run by Gartmore’s head of Japanese equities John Stewart and since its inception in November 2000, it has returned 25%. Last year the fund returned 17.9%. Its closure means only four of Gartmore’s 11 single strategy hedge funds are still open.
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