The Nexus Global Solutions Fund is a Malta-domiciled Ucits IV Sicav, and is being managed by Cheviot’s David Miller. It is described in its informational documents as being an “actively managed, globally diversified, multi-asset class fund”, which targets growth “over the medium term, with a dual focus on capital protection as well as capital appreciation”.
The fund went live on 1 May, and is available now to both Blacktower and Nexus members, according to Westwood. Marketing is being handled by Blacktower out of its offices in Gibraltar.
Westwood also intends to open the fund up to other financial advisers upon application for terms of business.
The fund is a joint initiative between Cheviot Asset Management and Blacktower Group where Cheviot provide the investment management and Blacktower control the distribution.
The fund has two share classes so advisers can chose either an entry fee class or an exit fee share class, dependent on how they wish to be remunerated. The fund is not available for distribution within the UK.
Nexus Global is the name of Blacktower’s IFA network, which consists of more than 15 affiliated advisory firms.
The fund currently is in start up phase and Blacktower hopes to raise the first £100m during the next 18 months.
Westwood said this is the first of a number of steps Blacktower Group are taking towards taking more control over how clients’ assets are invested and over the next year a further two possibly three funds could be launched.
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Fund fact box |
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name |
Nexus Global Solutions Fund |
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Domicile |
Malta |
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Minimum investment |
£1,000/€1,000/$1,000 |
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Type of fund |
(open-ended, UCITS IV SICAV |
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Size |
£ N/A |
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Base currency |
sterling |
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Share classes |
£, € and $ |
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Initial fee |
5.5% or 100% Allocation |
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Annual maintenance charge |
2% |
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Performance fee, Other charges? |
None |
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Launch date |
1 May 2013 |
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Manager (person) |
David Miller |
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Benchmark |
N/A |
