Rothschild Asset Management has launched the first of a range of offshore funds aimed at high net wo...
Rothschild Asset Management has launched the first of a range of offshore funds aimed at high net worth individuals which it hopes will soon be available to the UK market.
The Five Arrows Dynamic Companies Fund is a themed global equity fund with a minimum investment of £150,000.
The fund will be dollar-denominated with additional classes of shares issued in sterling and euros. An initial charge of up 5% can be levied on the 'A' class shares to pay commission to intermediaries and a trail fee of 0.5% is also available.
It is the first sub-fund launched through the Rothschild Private Investor Funds Plc, a newly established offshore open-ended investment company domiciled in Dublin.
RAM does not yet have FSA recognition for the fund for sale in the UK, but permission is being sought. David Orr, head of retail marketing, said the fund would be run by Chris Jenkins, representing his first exposure to the retail market.
Jenkins has been with RAM since May 1994 and has managed institutional money for associated companies such as Canadian mutual fund operator Global Strategist.
Prior to joining Rothschilds, Jenkins worked for Mercantile & General Reinsurance and TSB Investment Management, and has covered major equity markets throughout his 20 years within the industry.
Orr said: "There will almost certainly be more funds launched through this Oeic. This is the first sub-fund launched under the Oeic.
New sub-funds will be relatively straightforward to introduce. The Oeic is likely to remain targeted at high net worth investors. This is part of the private client offering from Rothschild and other funds in this area will follow this business model.
"The aim is to capitalise on areas of genuine investment expertise within the Rothschild group by launching a stable of pooled funds dedicated exclusively to high net worth individuals."
The fund is expected to recognise the decreasing importance of geographic benchmarking in international fund management and will instead focus on themes that will drive the world's equity markets in the next decade. The fund will be organised around five global investment themes. These are digital convergence, demographic changes, shareholder value, outsourcing and alternative energy.
Digital convergence is a play on the technology sectors, demographics recognises an ageing world population, shareholder value seeks out companies where changes in attitude to shareholders will release value, while outsourcing focuses on best of breed companies outsourcing production. Alternative energy includes themes such as the development of technology to replace outdated petrol burning engines.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till