GMO Woolley plans sub-fund launches

GMO Woolley, the institutional deep value fund manager, is to launch pan-European core and Global Oeic equity sub-funds in the next quarter. The funds will have a mandate of outperforming their respective benchmarks by 2% per annum. GMO has also scrapped plans to add retail share classes to its existing six Oeic sub-funds, owing to the group's lack of retail brand and distribution capabilities. The new funds will also carry £500,000 minimum investment levels.