CityWire.co.uk- Rothschild Group has made its fund of hedge funds tax efficient for UK investors by launching apreference share version of the fund.
The Nemrod Sterling Fund Linked Preference Share fund launched on the Channel Islands stock exchange at the end of last month.
It is directly linked to the performance of the £30 million Nemrod Sterling fund, which was launched in March 2005 by Pierre De Croisset of Blackpoint Management Limited, a Rothschild subsidiary.
The fund was originally launched in 1994 through a dollar-denominated share class for the Rothschild family. As it started to build an impressive track record, demand for the vehicle picked up and Rothshchild made it more widely available.
According to Rothschild, this master fund has returned 12.81% on an annualised basis since 31 December 1996. This has been achieved at an annualised volatility rate of 5.89%.
The group said it had launched the preference share class on the back of demand
from UK boutique wealth management groups.
The preference share class makes the fund eligible for ISA and PEP investors. It also has a reduced minimum investment of £35,000, making it more accessible for private investors.
