Former Foreign & Colonial fund manager Ian Wright has now launched an offshore fund through investme...
Former Foreign & Colonial fund manager Ian Wright has now launched an offshore fund through investment boutique Morant Wright, writes Jenne Mannion.
The MW Japan Fund will contain some 50 holdings equally weighted, aimed mainly at the Japan small and mid cap universe. Wright will run the portfolio along with Stephen Morant, head of Japan equities at Cazenove & Co until his departure earlier this year.
Wright said: "If a holding gets to 5%-7.5% of the portfolio, it will be reduced as a means of controlling risk in the fund."
The portfolio will operate without a benchmark, focusing on companies with strong balance sheets and potential for growth, taking a bottom up approach. Wright said: "Japan's economy, one of the largest and most advanced in the world, is at a low ebb having suffered some 10 difficult years. Although Japan still has its problems, it is undergoing a period of rapid change."
The Dublin-based Oeic has two share classes. 'A' Shares have a 1% annual fee and 'B' Shares have 1.5%. Both have performance fees attached. Shares will be available during the Initial Offer Period at a price of $10.30, which includes an initial fee of 30 cents, some of which can be rebated or paid as commission to intermediaries.
The minimum investment
for each subscriber will be 10,000 shares.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation