Groupama AM strengthens European equity fund soft-closing
The investment arm of French insurer Groupama, Groupama Asset Management, has updated its soft-closing policy regarding its eurozone small-mid cap equity fund Groupama Avenir Euro.
The firm has decided to limit subscriptions of current investors of the fund, whose assets under management have reached €1.4bn, by applying a maximum 10% fee for any additional subscription.
Groupama AM had already soft-closed its strategy to new investors with a similar measure earlier this year.
The manager argued the measure aims to preserve the management and the performance of the Groupama Avenir Euro fund.
Groupama AM had €96.8bn of assets under management as at end of December 2016.