Platinum Capital Management is to launch Platinum Europe Select, a fund focused primarily on Special Situations investment in French equities.
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:
| Automobile |
19% |
| Banking/Insurance |
16% |
| Energy/Oil |
13% |
| Distribution |
12% |
| Building |
12% |
| Real Estate/Hotels |
9% |
| Steel/Raw materials |
7% |
| Transport/Aerospace |
5% |
| Media/Telecoms |
2% |
| Other |
5% |
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) |
| DOMICILE | Cayman Islands |
| CURRENCIES | Euros, US dollars, Sterling |
| SPONSOR | Platinum Capital Management Limited |
| INVESTMENT MANAGER |
Platinum Trading Management Limited |
| AUDITOR | KPMG |
| ADMINISTRATOR | Fortis Prime Fund Solutions (IOM) Limited |
| CUSTODIAN |
Fortis (IOM) Nominees Limited |
| INITIAL CHARGE |
None |
| FEES |
Management: 1.5% per annum Performance: 15% of Net Profit, high water mark |
| LIQUIDITY |
Monthly, on 30 days notice before end of month |
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