Platinum finds value in France with launch of Platinum Europe Select

Platinum Capital Management is to launch Platinum Europe Select, a fund focused primarily on Special Situations investment in French equities.

Euro-Select is structured as an absolute return fund offering consistent long-term capital appreciation largely independent of market fluctuations.
 
Euro-Select's performance engine is an investment programme launched in May 2000 that has generated average annual returns to end-December 2005 in excess of 13.2% per year using no leverage and few short positions. The Fund's manager (based in France) has a 20-year investment track record and currently manages assets in excess of USD 3.6 billion.
 
The Cayman Islands domiciled Fund, employs a value-driven approach to investment with bottom-up analysis and a focus on individual stock-picking skills. These may be employed to support the value-driven equity strategy or, particularly in the current environment, to exploit the increasing opportunities within the Merger- Arbitrage sector in continental Europe.

The 30-strong management team invests in companies likely to be in a special situation (for example a bid, de-merger, takeover battle etc) within 18 months from the time of the investment.  
 
'Platinum Euro-Select brings the talents of its exceptional management group and their impressive investment programme to an international audience of institutional and high net-worth investors,' says Peter Sprecher, Chairman of Platinum Capital Management. 'With its foundation in traditional stock-picking skills, Euro-Select could be interpreted as something of a new departure for us but, at Platinum, we are always on the look-out for the best investment talent available and we are confident that in Euro-Select we have found just that.'   
 
Euro-Select's investment approach applies no particular restriction to the size of the companies in which investments are made. For example in September 2005, investment allocations (in the underlying fund) were:

Large Cap (> €5,000m): 42.32%
Mid Cap (€1,000m-€5,000m): 21.26%
Small Cap (< €1,000m): 36.42%

Equally, the manager has no specific sector focus:

Automobile 19%
Banking/Insurance 16%
Energy/Oil    13%
Distribution     12%
Building     12%
Real Estate/Hotels 9%
Steel/Raw materials 7%
Transport/Aerospace 5%
Media/Telecoms 2%
Other    5%

Platinum Europe Select is offered internationally in euro-denominated and US dollar-denominated classes. Minimum investment is USD 50,000 (direct), or USD 25,000 (approved nominee).

The main features of the fund are:

INVESTMENT APPROACH French European Equities
MINIMUM INVESTMENT  USD50,000 (Direct)
USD 25,000 (Approved Nominee)
DOMICILE Cayman Islands
CURRENCIES Euros, US dollars, Sterling
SPONSOR Platinum Capital Management Limited
INVESTMENT MANAGER Platinum Trading Management Limited
AUDITOR KPMG
ADMINISTRATOR Fortis Prime Fund Solutions (IOM) Limited
CUSTODIAN Fortis (IOM) Nominees Limited
INITIAL CHARGE None
FEES Management: 1.5% per annum
Performance: 15% of Net Profit, high water mark
LIQUIDITY Monthly, on 30 days notice before end of month

For further information and related articles on Single Manager Hedge Funds, please click here  
 

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