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RL Global Equity Select Fund (IRL) soft closure

February 2024

Following a period of increased asset growth, on the back of strong investment performance and net inflows, Royal London Asset Management Funds plc has taken action to protect existing investors of the Royal London Global Equity Select Fund (IRL): from 5 February 2024, we will restrict the issue of new shares of the fund to existing Shareholders only.

What does this mean for shareholders?

From 5 February 2024, we will not issue shares in Royal London Global Equity Select Fund (IRL) to new investors. This applies to all share classes of the fund (see table below).

  • Existing shareholders may continue to hold the shares they already own, and may make additional purchases.
  • Any application for shares from a new investor who is not a pre-existing shareholder of the fund will be refused.
  • Any income paid out can continue to be re-invested into the fund.
  • There will be no change in servicing for investors. Royal London Asset Management will continue to support clients in the normal way through factsheets and regular reporting.
Name Share class ISIN
Royal London Global Equity Select Fund (IRL) M Acc EUR IE000543K505
Royal London Global Equity Select Fund (IRL) M Acc USD IE000CR5D4L0
Royal London Global Equity Select Fund (IRL) R Acc EUR IE000OVJ8NQ7
Royal London Global Equity Select Fund (IRL) R Acc GBP IE0004O4JAA2
Royal London Global Equity Select Fund (IRL) S Acc USD IE000C2298U4
Royal London Global Equity Select Fund (IRL) Z Acc EUR IE000YT0GHV5
Royal London Global Equity Select Fund (IRL) Z Acc GBP IE000CFQ35Y7
Royal London Global Equity Select Fund (IRL) Z Acc USD IE000TX5YKX8
Royal London Global Equity Select Fund (IRL) Z Inc GBP IE000VS8BP34
Royal London Global Equity Select Fund (IRL) Z Inc USD IE000K9FAAE7

Global equity investment solutions

The Global Equity Select strategy employs Royal London Asset Management’s Global Equity team’s longstanding and proven investment process, investing in companies at the optimal part of their life cycle and aiming to deliver a balanced, concentrated portfolio with low style risk. 

The Global Equity Select strategy forms part of a range of global equity investment solutions offered by Royal London Asset Management to meet the requirements of a broad spectrum of clients. These strategies continue to remain open to existing and new investors:

  • Global Equity Diversified
  • Global Equity Income
  • Global Equity Transitions
  • Global Equity Enhanced 

Royal London Global Equity Income Fund

A differentiated, proven and repeatable approach to global equity

Find out more

Frequently asked questions

Yes. The redemption of shares is not affected by limited issuance, and shareholders can sell or redeem any shares that they currently own.

We will keep the limited issue position under review. If circumstances change and further shares can be issued without compromising the fund’s investment objective or its shareholders, we will re-open the issue of shares.

Royal London Asset Management defines investment capacity for a strategy as the point at which additional investment into the strategy begins to put at risk the portfolio manager’s ability to continue managing the investment strategy to the stated investment objective, without changing the investment approach taken to get to that point.

We continuously review the full range of investment strategies managed and distributed by Royal London Asset Management to ensure that the relative utilisation of capacity in any strategy is monitored and any issues that are identified are managed and resolved appropriately.

The Royal London Global Equity Select Fund (IRL) is managed using our Global Equity Select investment strategy. This strategy is also utilised in another authorised pooled fund and a range of segregated mandates managed on behalf of a range of institutional clients. In relation to the management and oversight of investment capacity, we apply a consistent approach to the investment strategy for all clients, regardless of how they access the strategy.

This investment strategy uses our Global Equity team’s unique and highly differentiated investment philosophy and approach to identifying attractive stocks. The investment strategy is run on a highly dynamic basis, meaning position sizes relative to the typically available liquidity in the market, and the portfolio manager’s ability to move in and out of names effectively, are key components in our assessment of capacity of this investment strategy. Another factor influencing the capacity assessment is the portfolio construction process utilised by this strategy, which produces a relatively concentrated portfolio.

As a result of strong and consistent net inflows in recent years, assets managed across all portfolios that utilise the Global Equity Select investment strategy are now approaching an amount whereby Royal London Asset Management's definition of investment capacity is being met. As such, in the best interests of existing fund shareholders and other clients, we are taking action to restrict access to the strategy, according to the local regulations and practices in force in the relevant jurisdictions.

Find out more

Please feel free to speak to your usual contact if you have any further questions or visit the global equity capabilities section of our website.

Read the shareholder communication

Contact us Our global equities capabilities