The Monetary Authority of Singapore (MAS) has approved two additional Platinum Capital Management funds: the Platinum All Weather Fund and Platinum Equity Plus Fund. The alternative investment funds will be aimed at sophisticated investors in Singapore.
'Platinum views the Far East in general, and Singapore in particular, as a very important market for alternative investments,' said Craig Reeves, managing director of Platinum Capital Management.
Platinum All Weather is a single-manager fund focused on achieving consistent monthly returns with low volatility. Its strategic focus is equity market neutral with options overlays.
With a target return of 10-15% per annum, the fund charges a 1.25% management fee, and an additional 15% per annum performance fee on new profits payable monthly. Losses are carried forward. The minimum investment is $100,000 or E100,000.
Platinum Equity Plus is a multi-manager fund designed to attain capital appreciation via a diverse range of global investment strategies.
The management fee is 2.5%, with a 25% per annum performance fee on new profits paid monthly. Losses are carried forward. The minimum investment is $50,000 or E75,000.
The approval of these two funds follows the announcement in January of Platinum Washington and Platinum Capital Protected Income Plus (Class A) funds being among the first international hedge funds to garner MAS authorisation.
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