Regulatory incubator, Sturgeon Ventures LLP, has launched an absolute return, open-ended long/short fund with a long bias, Clerkenwell Matterhorn Fund, in Malta, aimed at high net worth investors, family offices and institutions across the UK and Europe.
Domiciled in Malta, the new fund will target a net total return of 5%-15% per annum by investing in real estate investment trusts and property development companies.
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Sturgeon has also launched with an independent custodian, Kleinwort Benson Guernsey.
The Fund, a thematic Professional Investor Fund, is a sub-fund of Clerkenwell SICAV and will aim to focus on "best ideas approach", holding between 10 and 40 positions.
Seonaid Mackenzie, Sturgeon managing partner, said: "Our strength as an incubator is not only to help companies launch funds but also to help them grow a business."
"We are pleased to be expanding our offering in Malta. We are jurisdiction neutral but we really do favor Malta as a place to do business," Mackenzie said.
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By GlobalDataThe launch fees for the Fund include a 1% annual management charge with a 10% performance fee above a 5% net hurdle with a high water mark. There is no initial charge and the minimum investment is GBP10,000 (US$15,454).
