Dalton Strategic Partnership LLP (DSP) is closing two funds within its Melchior range of UK OEIC Funds. The move has been made in order to focus its efforts on a smaller number of funds.
The Melchior Japan Opportunities Fund and the Melchior UK Opportunities Fund will be closed once permission has been received from the Financial Services Authority (FSA). Both funds enjoyed considerable success in the past, although in recent years they have struggled to attract clients and have become uneconomic vehicles for investors. Glen Pratt, the Portfolio Manager of the Melchior UK Opportunities Fund, will remain at DSP as a member of the Global Investment team.
Magnus Spence (pictured), Managing Partner at DSP, says: “DSP has a wide range of funds, many of which have outstanding investment performance records. By closing those funds which have not performed well over an extended period of time, the firm is able to focus its efforts more closely on a smaller range of top performing strategies which include both equity long/short and institutional quality long-only funds. This focus will enable us to develop those funds more quickly and to give greater attention to their specific requirements.
“Our capabilities in Pan-European equities, Global equities, North American equities and Japanese equities are excellent with strong long-term investment performance, clearly defined investment processes and well-resourced teams. By concentrating the firm’s efforts on these asset classes which together represent over USD2 billion of assets under management, together with our Multi-asset and Wealth Management capabilities, we hope to enhance our offering to investors and accelerate growth.”