Boutique fund manager Hyperion Asset Management has announced it will close its institutional business to new inflows.
Hyperion will also soft close its retail funds – the Hyperion Australian Growth Companies Fund and the Hyperion Small Growth Companies Fund – to new investors.
Hyperion managing director Tim Samway said the decision was a result of “capacity issues”.
“We are taking this proactive approach to limiting total assets under management to safeguard future investment performance for clients,” Mr Samway said.
“By limiting funds before reaching our capacity we will preserve the concentration of high quality stocks in our portfolios and provide ample headroom for future outperformance and inflows from existing retail clients.
“Substantial investment outperformance over the long-term has driven strong inflows to Hyperion’s funds, with the amount of Australian equities under management recently reaching $5.5 billion.”
Existing unit holders will be able to continue to invest in both funds, a Hyperion statement said.
Hyperion’s institutional mandates will be hard closed immediately, while the soft closure for retail investors will take effect as at 30 April 2015.
ASIC has applied to the Federal Court of Australia for an order to compel Clayton Utz and AMP Limited to produce certain documents which to ...
Three Queensland directors have been disqualified by ASIC from managing corporations following reports from liquidators. ...
Listed real estate along with other defensive assets is expected to be embraced by investors in response to volatile geopolitics and the cen...