Castlestone Management has launched a Dublin-domiciled Ucits III version of its global macro fund, a multi-asset product providing exposure to a range of investments, including hedge funds and commodities.
The fund on which the new product is based, Porcupine Global Macro Plus, returned 14.43% in 2008 in its US$ institutional share class, according to Castlestone. The fund manager said the new product, which has a focus on delivering growth while also protecting capital, was ideal as a core portfolio holding.
The Intelligent Portfolio Asset Allocation Fund invests in global equities and bonds, commodities, money markets, currencies, global property and hedge funds and is designed to provide diversification through a lowly correlated asset allocation mix.
Leon Diamond, the manager, said “The ultimate goal is to give clients access to the kind of capital-preservation and absolute return characteristics of an offshore family-office style product, within the type of regulatory framework that gives investors confidence that they know what they are buying.”
The fund has a 1.25% annual management fee and upfront charge of 5% in certain intermediary share classes. Minimum investment is £/$/€1,000.
Castlestone, which has its origins in a family office, has previously launched two Ucits III Dublin funds based on existing offshore commodity products, the Aliquot Agriculture Fund and the Aliquot Commodity Fund.
