Paris-based manager Raymond James Asset Management International (RJAMI) has soft-closed its RJ MicroCaps fund investing in small European companies, in particular French firms, with a market cap of less than €300m.
The fund size has reached €60m of assets under management at the end of December 2016. It is closed to new subscriptions and will be opened again to investors when AUM will fall under €55m.
The RJ MicroCaps fund, managed by Louis de Fels and Edwin Faure, seeks to achieve an annualised return above 7% over a five-year period.
It has returned +126.76 % from inception on 17 December 2007 to 18 January 2017.
AUM of the RJ MicroCaps strategy stood at €61.69m as of 18 January 2017.