Rathbone Unit Trust Management has launched Luxembourg-domiciled, directly invested version of the Rathbone Global Opportunities Fund.
The Rathbone Luxembourg SICAV Global Opportunities sub-fund will sit under the Rathbones SICAV (Société d'Investissement à Capital Variable) umbrella, which was launched in May 2016, and allow clients to invest within a UCITS framework.
The highly active investment strategy, which targets under the radar and out of favour growth companies, and takes big bets away from the benchmark, will remain unchanged from that of the UK-domiciled fund.
It will have the same holdings as the UK-domiciled fund and will continue to be managed by James Thomson and Sammy Dow. The annual management charge will be 0.75% and the estimated UCITS OCF will 0.78%.
The fund, which has been approved by the CSSF (Commission de Surveillance du Secteur Financier), the Luxembourg regulatory body, can be marketed to financial advisers, life companies and QROPS providers (Qualifying Recognised Overseas Pension Schemes). Offshore clients who are currently invested in the UK-domiciled fund will also be offered the opportunity to transfer into the new Luxembourg-domiciled fund.
Greg Mullins, head of sales at Rathbone Unit Trust Management, said: "The addition of the Rathbone Global Opportunities Fund to our already strong range of SICAV sub-funds, will give offshore clients access to unconstrained global equity exposure, of around 40 to 60 stocks, and a process with has been successfully tested across a number of market cycles."
