Premier Portfolio Managers has added three more funds to its Luxembourg range. Launched on 30 Novem...
Premier Portfolio Managers has added three more funds to its Luxembourg range.
Launched on 30 November, the three are all additions to its Sicav, Premier International Investments. Two of them will be being managed by the Canadian mutual fund manager, Mackenzie Investment Managers. Mackenzie took a 24.9% stake in Premier Asset Management in November 1999.
Mackenzie will be responsible for Premier's Canadian Equity fund and its US Emerging Growth fund. The latter is being run by Jim Broadfoot and looks to buy into small-cap stocks with the ability to above-average earnings growth.
The third vehicle, the Far Eastern fund, is managed by Richard Muckart, director of Far East equities at Premier.
Premier's intention to launch these funds was first reported in Investment Week last month.
The Luxembourg Sicav already comprises the World 100, European 100, UK Blue Chip, Emerging Markets, North Atlantic Fund and the UK Emerging Companies fund. The addition of three more portfolios will take this up to nine, but Premier is looking to add two multi-manager funds, taking the total to 11.
The offshore funds are denominated in dollars and the minimum investment in each is $2,500. The initial charge is 5%, the annual management fee is 1.5% and commission will be 4%.
Douglas Adams, international sales director at Premier Portfolio Managers, said: "We are extending our range of funds to provide access to the markets which we believe can provide growth opportunities. We have sought out proven experts in the fields to manage the funds."
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