Investment boutique Majedie Asset Management is launching a UK retail fund this week, benchmarked ag...
Investment boutique Majedie Asset Management is launching a UK retail fund this week, benchmarked against the FTSE All Share.
The UK Opportunities fund, run by former Merrill Lynch managers, has already been seeded with £3m. This has been sourced from Majedie's backer, Majedie Investments plc, while the managers have also put their own money into the portfolio.
Majedie Asset Management was set up by Adam Parker, Robert Harris and other former members of Merrill Lynch's UK alpha team.
The fund has been established under an Oeic umbrella. It will have about 25 to 40 holdings, ranging across small, mid and large caps, split 20%, 30% and 50% respectively.
Parker, who is to run the portfolio, said: 'It is very focused, we want it to make money. Companies such as BP, Glaxo or Vodafone will not necessarily be the top three holdings in the portfolio.
The fund will invest in companies with decent cashflow, good management, proper assets and good operating systems. With our experience we think we know which shares are good and which are bad.'
The minimum investment for the fund is £25,000, the annual management fee is 1.5% and the initial charge is 5%. The fund is not yet Isable and IFA commission is negotiable on a case-by-case basis.
For further information go to www.majedieasset.com or call 020 7645 8705.
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