Alternative investment specialist Platinum has launched a Nordic product with fund management provid...
Alternative investment specialist Platinum has launched a Nordic product with fund management provided by home furnishings group Ikea.
The Platinum Nordic fund, available to investors in Europe, the Middle East and Asia, is being run by investment boutique Catella Asset Management, owned by the Ikea (Kamrad) group.
The fund will invest in both equities and bonds as well as using put options and index derivatives. Minimum investment is £40,000 and it is also available in euros or dollars.
Craig Reeves, managing director of Platinum Capital Management, said: "Catella approached us to start up a fund. We looked at their Scandinavian long/short book and liked what we saw. The group has an impressive track record. For example, in the first five months of 2006 to the end of May, Catella gained 7.72% compared to the MSCI Europe index gain of 4.12%."
In a separate move, the Platinum Europe Select fund has been approved by the Monetary Authority of Singapore (MAS) for investment. The fund invests in special situations with a focus towards French equities.
Minimum investment for the product is £50,000 and it is also available in euros and dollars. It can additionally be purchased through a life wrapper, for a minimum of £25,000.
Platinum products have no initial charge and an annual management fee of 1.5%. There is a 15% performance fee over a high watermark on absolute returns. Commission is negotiable.
£500,000 annual fee income
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