Paris-based asset manager Raymond James Asset Management International (RJAMI) has announced it will reopen the Raymond James Microcaps fund to investors’ subscriptions as from 24 May 2018.
The fund was hard-closed since the end of 2016. RJAMI’s decision follows changes in the prospectus of the fund regarding its reopening to subscriptions being upped to €70m from €55m while the fund will now be closed when assets under management will reach €80m against €60m previously.
Launched in December 2007, the Raymond James Microcaps fund seeks to achieve, on an investment horizon of at least 5 years, an annualised return above 7% by investing in small European companies, mainly French, with a market capitalisation of less than €300m.
It is run by Louis De Fels and Edwin Faure and security selection is based on investment themes identified by the firm’s thematic orientation committee.
Since inception, the fund delivered annualised returns of 10.2%. Its AUM neared €57.5m as of 18 May 2018.
Founded in 1995, RJAMI established a Luxembourg-domiciled Sicav Raymond James Funds in 2018 and opened a branch in Brussels last year.