AXA Isle of Man is to use an offshore bond wrapper to provide clients with exclusive access to the newly launched Bramdean Alternatives Limited Fund.
The fund, which has been launched by the multi-manager business Bramdean Asset Management, is currently seeking a full listing on the London Stock Exchange in early July through an International Placing and UK offer and is being aimed at institutional and sophisticated investors.
AXA says the fund, run by Nicola Horlick, managing director of Bramdean Asset Management, will offer investors a full range of alternative investments including private equity; hedge funds and speciality asset classes which could include infrastructure, real estate, natural resources and structured finance products.
The fund will only be available through bond wrappers provided by AXA Isle of Man, which Bramdean says will allow intermediaries and financial advisers to invest in the fund through an AXA life fund, as the minimum investment of £1,000 will enable a wide range of investors to access worldwide high quality funds and managers across the alternative sector.
At Listing, Bramdean says the fund will have already committed to a number of private equity funds, including Terra Firma Capital Partners III L.P; Thomas H. Lee Equity Fund VI L.P; and Coller International Partners V L.P, while commitments to speciality funds have also already been made or are being finalised.
In addition, Bramdean has confirmed it has appointed RMF Investment Management (Nassau branch), a wholly-owned subsidiary of Man Group, to manage the part of the fund’s assets which are allocated to hedge funds.
Kevin Dean, managing director of AXA Isle of Man, says the firm is very excited to be able to offer its offshore bond investors exclusive access to this highly innovative and unique investment opportunity.
He adds; “The launch of this fund is in response to increased demand from our clients to provide access to the alternatives arena.”
And Horlick argues the time is now right for alternative investments to be more readily available to investors beyond ultra high net worth and institutional clients.
She says: “For some time it has been clear there is increasing investment demand for alternative assets and the performance of pension funds which have embraced this asset class demonstrates why alternatives deserve serious consideration.”
“We are delighted to be teaming up with AXA Isle of Man to offer offshore investors access to this proposition. And we believe the product we have created between us is well-timed and suitable for the AXA client base.”
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