Castlestone Management, the alternative New York and London asset manager, has launched a Ucits III-compliant version of its global macro fund, called Intelligent Portfolio Asset Allocation (Ucits) Fund.
The new fund aims to bring the advantages and performance capabilities of offshore, family office style investing to investors in the UK and Europe in a more transparent and regulated wrapper.
It is a multi-asset fund with actively managed exposure in global equity securities, global bonds, commodity markets, money market instruments, currencies, global real estate markets and hedge funds, providing diversification benefits by using low-correlated allocations.
The asset manager has designed the fund to appeal to investors seeking the highest possible return over time, with a primary emphasis on growth, but with keen attention to capital protection.
The fund is domiciled in Dublin and has been approved by the Irish Financial Services Regulatory Authority. It offers daily liquidity and is available in US dollar, sterling and euro share classes.
Castlestone Management has already applied the Ucits III formula to two previously offshore-only commodity funds, the Aliquot Agriculture Fund and the Aliquot Commodity Fund.
Leon Diamond, who manages the fund, says: “The ultimate goal is to give clients access to the kind of capital-preservation and absolute return characteristics of an offshore family-office style product, within the type of regulatory framework that gives investors confidence that they know what they are buying.”
