former orbitex cio launches neptune, a fund management operation targeted at top-end IFAs
Robin Geffen, former chief investment officer of Orbitex, is to launch a boutique fund management operation called Neptune targeting top-end intermediaries and the Sipp and Ssas markets.
The company is emerging from what was left of Orbitex Investments, the US company which recently quit the UK and Geffen, as chief investment officer and managing director, will head the team of fund managers who worked with him at Orbitex.
It will market the existing three Oeic and two Dublin Ucits fund range, a number of which look set to be rebranded Neptune once FSA approval for the fund group's launch has been given.
The funds on offer are the UK Equity, Managed and Global Equity Oeic sub-funds and the Dublin Euro Equity and Euro Income funds. It also manages the CF Orbitex Balanced fund.
Neptune has a team of five fund managers, including Geffen, all from the original Orbitex team. They are fund manager Oliver Russ and assistant fund managers Charlotte Seyfried and Greg Bennett in the UK and Robin Harding based in Tokyo.
Geffen said the investment philosophy for the company is based on global sector analysis with an equal focus on top-down and bottom-up.
Sector and country selection will be based on economic fundamentals and market analysis. Equity selection will be style-neutral and large-cap focused using qualitative and quantitative research to screen 400 shares in each of the market areas. Portfolios will typically hold between 30 and 50 shares.
As to whether the funds will be rebranded, Geffen said: 'Currently they are Orbitex funds. We will review the issue of the onshore funds but the Dublin Ucits will remain Orbitex funds.'
The company has yet to get FSA approval and in the interim is acting as an appointed representative of Cainsea Investment Management and the team is registered as representatives of Cainsea.
'We have a very tight launch schedule of two months and currently FSA approval takes three months so we had to get an umbrella arrangement in place hence the appointed status under Cainsea,' said Geffen.
The CF Orbitex Balanced Fund has returned 17.7% pa on a net basis in the three years to 31 March 2002, according to Caps.
Minimum investment is £50 per month into a savings scheme or £1,000 lump sum investment. Commission to intermediaries is negotiable.
Prior to joining Orbitex as CIO in 1997, Geffen worked as head of Eagle Star's Asia Pacific team and helped establish the pooled fund business at Scottish Equitable.
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