WyeTree Asset Management has launched its latest fund, the WyeTree Yield Distribution Fund, as an Irish master/feeder structure.
The fund will be managed by a London-based team led by Judith Sciamma (pictured) and will be investing in the mortgage-backed securities and real estate markets, using WyeTree’s model-based analysis and research techniques.
It will seek to target an annual yield of four to six per cent with low volatility.
Carne Group, a provider of governance and oversight solutions for the fund management industry, helped to structure the feeder company and a master unit trust for WyeTree.
WyeTree will make use of Carne Global Fund Services, Carne’s Irish management company, to meet local substance requirements. In addition, Yvonne Connolly, a principal with Carne in Dublin, has been appointed to the board of the feeder company as an independent director.
Carne will also be providing VAT, money laundering reporting officer and company secretarial services as part of its ongoing support of the feeder company.
John Donohoe, chief executive of Carne Group, says: "Carne is delighted to be working with WyeTree on the launch of this exciting new fund. The project has drawn on many of the core services Carne provides to leading fund management businesses. Because of this we have been able to deliver a full service solution, allowing for a speedy roll-out and investor-friendly governance structure."
Sciamma says: "Carne was a great partner to work with on this launch: professional and helpful, their presence in London allowed them to work closely with us on a structure that is appropriate and robust enough to satisfy the requirements of our investors and distributors."