Magellan Asset Management plans to launch a high conviction fund, which targets small family offices, high net worth investors and self-managed superannuation funds (SMSF).
Magellan head of Distribution, Frank Casarotti, said: "The new fund will be launched on 30 June 2013 and it will be a concentrated fund with eight to 12 companies."
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Casarotti said: "Family offices and sophisticated investors understand risk better than the average investor."
The new fund will include the best stocks of Magellan’s Global Fund and it followed demand from offshore investors.
The fund’s minimum investment will be US$100,000 and it will have up to 50% in cash, versus a maximum of 20% cash of the Global Fund.
"The adviser and the investor will be able to make not just an asset allocation decision around the exposures that they want, but to make it according to their view on the currency.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"We provide the tools for an adviser to construct a meaningful portfolio to take advantage on whether they believe that the currency is going up or down and allocate accordingly," Casarotti added.
Magellan will also launch a hedged global fund that will complement the current unhedged Global Fund.
