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US firm moves to stem flows into AAA-rated duo’s fund

US firm moves to stem flows into AAA-rated duo’s fund

The global equity value fund run by Citywire AAA-rated pair David Samra (left) and Daniel O’Keefe (right) will be closed to most new investors at the end of Friday, Artisan Partners has announced.

The Milwaukee-based firm said it would be closing the Artisan Global Value fund on 14 February after it reached around $14.1 billion in assets across all vehicles and managed accounts.

The fund, which was previously soft-closed to US investors, will not be accepting new money from either domestic investors or those investing through its Ucits-mirror.

Writing to shareholders, Eric Colson, chief executive officer of the group, said Artisan had been monitoring capacity constraints and had to respond to the ‘velocity of asset growth’.

‘At this point in the evolution of strategy capacity we believe that a further closing is necessary to preserve the integrity of the strategy over the long-term,’ Colson said.

The Artisan Global Value fund was launched as Dublin-domiciled fund in March 2011. This version of the fund currently has just over $1 billion in assets.

It has returned 48.31% in the period since launch, while its Citywire benchmark, the LCI S&P 500/MSCI World (50:50), rose 35%.

Speaking to Citywire Global at the end of last year, O’Keefe said he had opened up a position in ‘political punch bag’ RBS in order to take advantage of the negative sentiment surrounding the banking group.

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