Amati launches strategic innovation fund

Amati launches strategic innovation fund
[L to R] Graeme Bencke, Mikhail Zverev and Gareth Blades will run the fund

Amati Global Investors has announced the launch of a strategic innovation fund, focussing on global mid-caps.

The boutique asset manager will launch the TB Amati Strategic Innovation Fund on May 23, with an initial offer period beginning on May 9.

Mikhail Zverev, Graeme Bencke and Gareth Blades will run the fund.

Zverev worked alongside Amati’s chief executive Paul Jourdan at First State Investments from 2002-2007 and joined Amati in February this year from Aviva Investors.

Bencke joined the firm earlier this month to launch the strategy, and has spent time at F&C Asset Management and PineBridge Investments. 

Blades joined Amati in 2019 and has experience in corporate finance, consulting and has expertise across the healthcare sector.

Bencke told FTAdviser the fund will invest across sectors. 

“We are focussed on the sort of sectors like technology, but also industrials, healthcare, consumer," he said, adding the fund will focus on mid-caps, not mega-caps.

“The average market cap of the [investments in the] fund is $36bn (£29.1bn), so it is still very liquid.”

Zverev added the UK is renowned as a global centre of excellence in the areas most closely associated with innovation.

“The innovation opportunity is granular, company specific, and best discovered from the bottom up,” he said.

The fund is seeded with £2.2mn of investment from the three managers, as well as other Amati team members.

The fund will hold between 30 and 50 equity positions, and will look to outperform markets and peers over five years, with no specific geographic focus.

It will have an annual management charge of 0.75 per cent, a research charge of 0.1 per cent and the ongoing charges figure will be capped at 1 per cent.