Brook managing director, Mark Brighouse said this move was made necessary because the fund has proved popular and the inflows were growing. Brook is taking this measure well before the Alpha Fund's size would become a problem.
The Alpha Fund is managed by Brook portfolio manager Slade Robertson, who is also responsible for Brook's Tasman Fund.
Brighouse said: "The Brook investment team is working well and investment performance has been strong. Because of this we need to ensure that strong inflows to the Alpha Fund do not compromise our ability to sell any holdings when our investment case changes.
"Brook appreciates the long-standing support from clients and we want to be in a position where we are able to continue delivering strong results to them," Brighouse said.
The Alpha Fund's gross return for the six months to the end of May was 12.2% compared to a New Zealand sharemarket that was up 2.0 percent and the OCR which would have returned 1.7%.
Brighouse said the Tasman Fund is a potentially attractive option for investors looking for a core investment in equities.
"The Tasman Fund remains open to new investors at this stage," said Brighouse
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