Merchant Capital this week announced the launch of a Russian equity l/s vehicle on its independent platform.
Merchant Capital this week announced the launch of a Russian equity l/s vehicle on its independent platform. The Russian Phoenix UCITS fund commenced trading 2 June 2011 with day one assets of USD40million. The new fund is a replication of the Spectrum Russian Phoenix Fund managed by Spectrum Partners Group, which uses a thematic approach to identifying stock opportunities in the markets of states of the former Soviet Union. Primarily, large-cap equities are targeted for the fund. Minimum investment for professional retail investors is 20,000 in USD, EUR or GBP, and 100,000 for institutions. The consistent growth of its platform as it continues to look for compatible and innovative strategies with good track records is “extremely exciting” said George Cadbury (pictured), Director of Asset Management for Merchant. “Spectrum is one such firm which we believe can successfully replicate its offshore product in an onshore regulated structure,” added Cadbury. On choosing Merchant, Spectrum Partners’ Managing Director, Michael Kart, said: “They are able to bring funds to market much quicker than some of the larger platforms and have a good track record specifically with alternative products.”
