The fund manager said the launch was in response to demand from international IFAs, who had requested an open-ended version of the strategy, which had previously only been available in managed accounts.
The Bermuda-domiciled Oeic is promoted through London-based Curzon Capital, and uses traders Lewis Charles Securities to manage the strategy. Curzon said the fund, which has a £10,000 minimum investment and AMC of 1%, is considered aggressive, but uses a hedged strategy to reduce overall risk.
The fund’s managers sell options on gold, oil, the FTSE and equities, as well as sterling against dollar and euro against dollar currency pairings.
Charlie Goldsmith, head of marketing at Curzon, said the fund was non-directional and in “normal market conditions” it should generate a return irrespective of whether markets were rising or falling.
He added the fund has been accepted by most major QROPS trustees and life offices including Royal London 360, Hansard, Lombard International, Canada Life International and Irish Life International. Initial commission of up to 3% can be taken by IFAs. In addition, a quarterly trail is paid from the commissions that are generated by the trading activity undertaken by Lewis Charles Securities.
Curzon said this 10% share of trading revenues could equate to as much as 3% or 4% annually of client money invested, but stressed it was not derived from the fund’s NAV.