The Amerindo Internet Fund raised £400m during its launch period which closed 31 March. Managers of ...
The Amerindo Internet Fund raised £400m during its launch period which closed 31 March.
Managers of the portfolio have started to invest the monies raised with the trust's NAV closing at 100.34p on 7 April. Not all of the funds have yet been alloted, as 20% of the portfolio will be put in private equities, which the managers believe will take longer to invest. The investments in these kind of companies will be at post venture capital stage, with a view to supporting such companies upon floatation and thereafter.
Amerindo was formed in 1979 by Alberto Vilar. It specialises in running US emerging technology portfolios and has approximately $6bn under management. The Amerindo Technology US mutual fund has produced the second highest returns over 10 years out of over 40,000 US fund managers, according to the group.
The managers have experienced many corrections in the technology sector and their approach is to pick up oversold stocks on their holding list, on bad days for the market.
The investment approach is to pick up a portfolio at bargain prices, whose merits will be reflected when general sentiment tries to buy into quality stocks in any sector recovery.
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