Demand from advisers has prompted VAM to launch a Sterling share class for its Luxembourg-based VAM US Mid Cap Growth Fund.
The fund’s bottom up stock-picking approach is providing good performance, which has seen the fund deliver 29.3% over a 12 month period to 31 August 2011.
Michael Hunt, managing director of VAM Funds, says: “The Sterling share class is an important step in giving GBP investors easy access to the fund. This move has been driven by demand from advisers wishing to offer the fund to their sterling investors in a form that protects them from exposure to currency risk.”
The portfolio manager is Driehaus Capital Management and the fund is managed by Dan Wasiolek. The fund maintains a fully invested portfolio, generally holding 40 -70 securities. It targets companies with a market capitalisation of $1.5bn up to $15bn and positions are limited to 5% of the portfolio. The minimum investment is £5,000.
The VAM US Mid Cap growth Fund is a Luxembourg regulated, UCITS IV fund and is 100% currency hedged. It offers daily dealing and is available through all offshore platforms and portfolio bonds. The fund is also ranked in the top quartile of US funds over one and two years. Year-to-date as at 23 September 2011, the fund is currently ranked 45th out of 2625 Funds in the Lipper Global North America Small & Mid Cap Equities universe.
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