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Newton has announced that they will soft-close their Global Opportunities Fund on Tuesday May 6th.
The fund will
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Investment values can go down in value as well as up and you may get back less than the amount you invest.
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Newton feels that performance may suffer if the fund’s size were to grow significantly from current levels. It is therefore Newton’s intention to dissuade new investment by increasing the cost of purchasing the fund. This should benefit existing investors in the fund, as the amount of assets will remain at a level with which the manager feels comfortable.
The performance of the fund has been strong since its launch in July 2005 – it ranks near the top of its sector over this period. Impressive outperformance during 2007 was driven by the manager’s decision to cut exposure to finance stocks and focus on mining and energy companies instead. This was made possible due to the fund’s unconstrained nature – meaning that the manager can invest wherever he finds the most attractive stocks without being tied to a benchmark index.
The Newton Global Opportunities Fund is currently part of the Wealth 150, our list of favourite funds in each sector. We continue to believe that it is one of the top funds in its sector and believe existing investors should be well rewarded. However, soft-closed funds are not eligible for inclusion on the Wealth 150 and so the Newton Global Opportunities Fund will be removed from the list when it soft-closes.
Any investors who want to purchase the Newton Global Opportunities Fund can take advantage of a full 4% saving on the initial charge if they invest through Hargreaves Lansdown by Friday May 2nd at the latest. Any purchases after this date will not receive a discount.
» Key Features of the Newton Global Opportunities Fund
Fund research is provided by Hargreaves Lansdown. Hargreaves Lansdown is an independent broker offering unit trust, stockbroking and other pension and investment services. No news or research item is a personal recommendation to deal.