Blue Planet, the investment house specialising in financials, has launched its first hedge fund, the Blue Planet Global Financials Fund.
The offer for subscription opened on 20 March and will close on 31 March 2006.
The fund's objective is to achieve a high level of capital growth from a concentrated portfolio of well researched stocks. It will target private client brokers, discretionary advisers, high net worth individuals and institutional investors. The minimum initial investment is EUR 100,000 and there will be a 1.5% management fee and 20% performance fee.
The fund will be managed by the same team behind Blue Planet's existing funds and will be led by Ken Murray. The five-strong management team will all contribute ideas to the portfolio, which will invest in financial companies, principally banks, across the globe and will have a strong presence in emerging markets.
Blue Planet currently manages three investment trusts, Blue Planet Worldwide Financials Investment Trust, Blue Planet European Financials Investment Trust and the Blue Planet Financials Growth & Income Investment Trusts. All have out-performed their Benchmark Indices by an enormous margin since launch and are amongst the best performing investment funds in the UK.
When ranked against all conventional investment trusts, Blue Planet's trusts were ranked 1st, 2nd and 5th out of 260 in terms of share price appreciation over the past year - an achievement unmatched by any other fund manager. In terms of their Trustnet sectors, they were all ranked 1st in their respective sectors.
'We are delighted to announce the launch of the Blue Planet Global Financials Fund which is a logical extension to our product range,' says Ken Murray, Chief Executive of Blue Planet Investment Management. 'Blue Planet has delivered outstanding returns for our investors through our investment trusts. The Blue Planet Global Financials Fund will allow us to appeal to a different audience using the same specialist investment approach, which has a track record that is second to none.
'The prospect for the global banking market over the next 10 years is extremely positive and we expect to make considerable profits over that period for our investors. It is our belief that out-performance comes through specialisation and our corporate objective is to be the best manager of financial stocks in the world. We believe that we already hold this position and are keen to build on this achievement for the benefit of our investors'
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