Paris-headquartered investment firm La Française Global Asset Management is to hard-close its fixed maturity bond fund La Française Rendement Global 2022 launched in September 2014, the company announced.
Following strong inflows in the vehicle, the manager said it will close the fund to new subscriptions on 31 October 2017.
The decision aims to preserve the interest of existing shareholders in the fund as La Française GAM believes the current size of the fund (€673.57m of AuM as of 13 October 2017) has reached an optimal level for its management.
Since inception (17 September 2014) to the end of September 2017, the fund has delivered annual net returns of 5.74%.
As from 2 November 2017, the method employed for the valuation of the fund will change as it will valued at bid offer.
La Française GAM has launched another fixed maturity bond fund, La Française Rendement Global 2025, last August.