Investec Asset Management is adding four funds to its Dublin umbrella as it gears up for a major cam...
Investec Asset Management is adding four funds to its Dublin umbrella as it gears up for a major campaign to capture the European investment market.
The move also sees the introduction of the new director of equity's first fund, putting the final touch on the company's strategic shift away from a geographical and towards a global sector approach to investment.
The company's intention is to continue to sell to the UK and offshore via its Guernsey base, while expanding its Dublin Oeic to access Europe. Director Philip Saunders, said: "What we are doing is putting a concentrated effort into developing our Ucits platform."
The first two funds, to be launched on 23 March, will be a global equities fund run by
Nick Mottram, head of equities, and a global bond fund run by Paul Griffiths, head of fixed interest investments.
The funds will have a minimum investment of $3,000 or $2,000. The range will be Ucits compliant and thus allow Investec to register in Germany, the Netherlands, Scandinavia and Switzerland, as well as market the funds out to offshore centres around the world.
The two global funds will be followed by funds which already exist in the Guernsey range: Albert Morillo's pan-European fund and the technology-themed Wired fund. These will to be introduced as they are authorised over the next two or three months.
The funds have an initial fee of 5%, of which 3% is available to brokers.
The annual management charge will be 1.5% for the equity funds and 0.75% for the bond fund. Investec will be cloning further funds and adding them to Dublin on an ongoing basis, according to demand.
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