Beeson Gregory has received the go-ahead to launch the first sub-fund on its Luxembourg-based Sicav,...
Beeson Gregory has received the go-ahead to launch the first sub-fund on its Luxembourg-based Sicav, a pan-European smaller companies offering, writes Robert Stock.
Beeson Gregory, a UK investment bank specialising in the small-cap arena, is to apply to the FSA to get UK recognition for its sub-fund, the Beeson Gregory Pan European Smaller Companies Growth Fund.
The offer period will start on 11 June and close on 27 June when dealing commences. It has three share classes. The A and B shares have a minimum investment of E100,000.
The A share offers commission of up to 4%, an annual management charge of 1.75% and renewal of 0.5%.
The B share has an annual management charge of 1% with a 20% performance fee for outperformance of the HSBC Pan European Smaller Companies Index. Beeson will rebate one third of that fee as a loyalty incentive.
The C share is aimed at retail investors. It has a minimum investment of E2,500 and an annual management charge of 1.75% with no renewal.
The fund will be managed by Andrew Impey, Caroline Watson and Tony Parker, who all joined from Dresdner RCM.
Under current market conditions, the group does not intend to run assets of more than £1bn, both institutional and retail, in pan-European small caps.Investment Week 4 June 2001
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November