BNY Mellon has moved to soft-close two of its popular absolute return vehicles - including an Insight product - after inflows soared in recent months.
Subscriptions for new investors into the Absolute Insight Equity Market Neutral and BNY Mellon Absolute Return Equity funds will be limited as of tomorrow. Both funds are managed by Insight's specialist equity team, led by Andy Cawker, which currently manages a total of £2.6bn, following significant inflows over the last few months. The group said it has made the decision to limit inflows and control the capacity of the funds to protect the interests of existing investors. Abdallah Nauphal, CEO of Insight Investment, said: "We are delighted with the support that clients have shown ...
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