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Rothschild launches European Convictions fund
Edmond de Rothschild Asset Management has launched a high-conviction European equity fund into the UK retail market.
The fund will draw on the top stock selections of the French asset manager’s four existing European funds, which include Europe Synergy, Europe Value & Yield, Selective Europe and Euro Leaders.
Domiciled in France but with UK distribution status, the fund has a 2 per cent annual management charge with a performance fee of 15 per cent of any outperformance of the MSCI EMU index.
The minimum investment is equal to the net asset value of one fund unit, which was €105.35 (£88.28) on February 6 according to EdRAM.
Fund manager Olivier Huet will reassess the 100-150 holdings of the group’s four other European equity funds and select between 30 and 50 names based on valuation, potential upside, company fundamentals and a top-down assessment of the stock market.
The company said in a statement that the Euro Convictions fund was based on an institutional mandate which gained 24 per cent since its launch on July 3 2009 to December 30 2011.
