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:
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)
|CURRENCIES||Euros, US dollars, Sterling|
|SPONSOR||Platinum Capital Management Limited|
|INVESTMENT MANAGER||Platinum Trading Management Limited|
|ADMINISTRATOR||Fortis Prime Fund Solutions (IOM) Limited|
|CUSTODIAN||Fortis (IOM) Nominees Limited|
|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