Mon, 10/10/2005 - 07:09
Specialist investment firm King & Shaxson has launched a UK equity hedge fund, the King & Shaxson Premier Fund.
Industry veteran Alan Brunsden will manage the new fund, which is aimed at institutions and high net-worth individuals, and is the first of many new initiatives in the pipeline at the fund advisory and management firm.
"The King & Shaxson Premier Fund benefits from the extensive knowledge and experience in the UK equity market of its manager, Alan Brunsden," said Tom McIntosh, King & Shaxson CIO. "The UK equity market, despite its apparent maturity, leaves many opportunities and inefficiencies, which a talented fund manager can exploit to the benefit of his customers. Alan's past performance record gives me a great deal of confidence that he can successfully seek these out."
Brunsden has 30 years' experience managing UK equities and brings a significant performance record to King & Shaxson. He will be supported by the firm's high-quality, client-focused team.
The Cayman Islands-domiciled fund will concentrate on a UK equity long/short strategy with a fundamental bias, and will trade in all the main UK markets including the AIM. The minimum investment is GBP 100,000 while the management fee is 1.5 per cent with a performance fee of 20 per cent. It is quoted on the Irish Stock Exchange and offers monthly redemptions with 30 days notice.
"We will combine short term trading and medium term investment opportunities, building on my own experience and contacts, backed up by the investment expertise within the King & Shaxson team," said Brunsden.
Background notes: King & Shaxson is a long-established City name, with a history dating back to the mid-nineteenth century. From the middle of the 1980s, the firm has concentrated its activities in dealing in UK gilts and other bonds. In December 2003, it began a process of diversification within institutional financial services, when it acquired the former UK business of Swiss Life Asset Management (UK) Limited (SLAM), creating King & Shaxson Asset Management. SLAM had built up a strong track record in the running of institutional assets and the key members of that team remain in place in the renamed company.
The London businesses of King & Shaxson are owned by Singaporean financial services company PhillipCapital, which employs around 3,000 people worldwide, and has its major interests in Singapore, Hong Kong and other regions of the Far East. The development of London is an important element in PhillipCapital's global growth plan.
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