Thames River Capital confirms its intention to launch two offshore multi-manager vehicles on 3 June 2008, run by its Multi-Manager team led by Rob Burdett and Gary Potter. The Dublin-based funds – sub-funds of Thames River Traditional Multi Funds plc – will be registered for distribution in markets across Europe, the Middle East and other offshore jurisdictions as appropriate and will include US Dollar, Euro, and Norwegian Krone share classes.
The funds are approved by the Irish Financial Services Regulatory Authority and will be UCITS III compliant and have the following characteristics:
Multi-Select Fund (Offshore)
The Multi-Select Fund will aim to achieve long-term growth through a portfolio of 15 to 25 funds from within Thames River and Nevsky Capital’s range of investment vehicles as well as those managed by third party investment houses. Portfolio holdings will be invested in equities and bonds and will also have exposure to alternatives to include funds of hedge funds and opportunistically to private equity, commodities and property. The neutral asset allocation will be one third Alternatives, one third Equities and one third Fixed Income. Ranges of 15% either side of the neutral position will be managed by the Multi-Manager team.
Global Boutiques Fund (Offshore)
The fund, will aim to mirror the S&P and OBSR AA-rated flagship onshore Global Boutiques Fund subject to the differing regulatory constraints. Its objective is to achieve long-term capital growth through exposure to a portfolio of regional and global funds managed by boutique managers. It will have between 15 and 25 holdings.
Michael Warren, Thames River Capital Investment Director said, “The launch of our onshore multi-manager funds last year has excited considerable appetite from offshore markets for funds which capture the talent of our multi-manager team. Already, our sales team on the ground across Europe, Asia and in Dubai has confirmed strong demand for the flagship Global Boutiques Fund and it was therefore logical to include a mirror fund in our offshore range.
“To complement this, we are launching one further fund which we believe will be very attractive to the offshore marketplace. The Multi-Select Fund will meet demand for a blend of ‘the best of Thames River and Nevsky Capital, and the best of the rest’, with the freedom to exploit alternative as well as traditional asset classes. “
Key features
Global Boutiques Multi-Select
Fund currency US Dollar, Euro, Norwegian Krone US Dollar, Euro, Norwegian Krone; Sterling
Lipper sector Global Equity Growth TBC
Minimum investment $1,000; €1,000; NOK 8,000 $1,000; €1,000; NOK 8,000; £1,000
Initial charge 5% 5%
Annual management fee 1.5% 1.5%
Performance fee N/A 10% with HWM
Share type Accumulation Accumulation
Domicile Dublin-based UCITS III vehicle Dublin-based UCITS III vehicle
Thames River Capital
Thames River Capital LLP is authorised and regulated by the Financial Services Authority.
Thames River Capital LLP was established in 1998 and together with its affiliates Nevsky Capital LLP and Thames River Multi-Capital LLP, manages over £6.4bn (US$12.7bn)*, with 164 staff including 89 investment professionals and 24 in sales and marketing as at 17 April 2008.
Thames River Capital and its affiliates manage a range of multi-manager funds, property funds, UCITS III funds, and long / short funds investing in Emerging Market equities, European equities, Japanese equities, Global Credit markets and OECD sovereign bonds.
*Manager estimate, as at 31 March 2008.
Thames River Multi-Manager Team
The Thames River multi-manager team comprises five specialists, operating within a flat structure. The team has worked closely together for many years: Rob Burdett and Gary Potter have worked with Kelly Prior and Paul Green for over 10 years and Anthony Willis for over six. Collectively the team has over 80 years’ industry experience and over 50 years in manager selection and has delivered strong and consistent performance in varying market conditions. During their time at Credit Suisse, they built up a business with some £1.3bn assets under management and received numerous industry accolades for both performance and for the investment process they have developed.
