DOMINION, a Swiss and Channel Islands-based investment manager, has launched a new open-ended vehicle, which it said is the world's first retail fund to comprehensively cover the fashion, luxury goods and services sector.
The new CHIC OEIC will invest in a range of companies, such as LVHM, Burberry, Bulgari and Oakley and leisure brands such as Apple, L’Oréal, BMW and Sony. The fund has a minimum investment of £5,000, weekly liquidity and is targeted at the ‘mass affluent’ sector. BlackRock Merrill Lynch Investment Advisers is the investment manager on the fund. The fund will have a core portfolio of companies with a minimum market cap of nearly £700m. However, up to 20pc of the fund may be invested in companies intending to IPO and small and mid caps. Alex Bell, chief executive of Dominion, said: “...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
