Smith & Williamson Investment Management is to launch the Nucleus Enterprise Fund, a long/short equity hedge fund, on 3 April 2006.
This new hedge fund aims to achieve long-term capital appreciation irrespective of market conditions. It will have a relatively low turnover holding both long and short positions on a medium to long-term view. The initial offer period runs from 1 - 31 March 2006, with monthly redemptions and subscriptions thereafter.
Fund manager Mark Boucher ran The Enterprise Long/Short Equity Fund from its launch in October 1998. This was a UK equity hedge fund with one of the longest track records in the industry. The Nucleus Enterprise Fund will aim to provide a low double-digit annualised return with low volatility.
Mark said: "We are delighted to be launching the Nucleus Enterprise Fund. We aim to maximise the upside while controlling the downside through prudent use of long/short equity investments. Investors will be provided with transparency and direct access to us as fund managers."
The Nucleus Enterprise Fund is aimed at high-net worth individuals, independent financial advisers, institutions and multi-manager funds. It requires a minimum initial subscription of US$100,000 or its sterling equivalent and carries a 10% performance fee and 1.5% management fee.
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