The decision was made to protect clients' best interests, RLAM said, and to ensure its portfolio managers can continue to "access all parts of the global equity market".
Launched in October 2017, the fund holds £907m assets under management as of 13 September 2023, according to Morningstar data.
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The Global Equity Select strategy is part of RLAM's global equity range, which includes the Global Equity Diversified, Global Equity Income, Global Equity Transitions and Global Equity Enhanced funds, all of which remain open to existing and new investors.
As part of the access limitation process, the issuance of shares in the Global Equity Select fund has also been closed, meaning existing and new investors will not be able to purchase any shares in the strategy. The limitation will apply to all share classes, RLAM said.
Rob Williams, chief distribution officer at Royal London Asset Management, said: "This decision reflects our continued commitment to deliver the best outcomes for our clients.
"We have seen extremely strong interest in the Global Equity Select strategy, with capacity levels now reaching a point where we believe it is in the best interest of investors to exercise controls to ensure our investment team can continue to invest in best-of-breed companies that can deliver attractive long-term outperformance."
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According to data from FE fundinfo, the fund has been significantly and consistently outperforming its sector - the IA Global - over the last five years. Some of the strategy's largest holdings include Microsoft (8%), Amazon (5.4%), Apple (4%) and Visa (3.6%).