FSA Approves Lux-Based VAM To Offer Funds In UK
Monday, February 22, 2010
The UK Financial Services Authority (FSA) has given its approval under UCITS III for VAM Funds, the Luxembourg-domiciled investment boutique, to offer a range of eight funds in the UK.
Seven of the funds – the US Micro Cap Growth Fund, the US Small Cap Growth Fund, the US Mid Cap Fund, the US Large Cap Growth Fund, the Emerging Markets Growth Fund, the World Growth Fund, and the International Real Estate Fund – are managed by Chicago-based Driehaus Capital Management. The last of these funds invests primarily in non-US REIT and realty-related growth stocks.
The eighth fund, the Asia Fixed Income Fund, is managed by Enhanced Investment Products, based in Hong Kong.
VAM's managing director, Michael Hunt, said: "The move into the UK market is an important milestone in the development of VAM Funds as a global business. The UK has set the standard in fund regulation and expertise."
Nigel Watson, VAM's global sales director, added: “The UK also has a large portfolio bond market which is used for tax planning, and this is a segment of the market we are looking to access.”
Watson said the range will be available to UK investors mostly through personal portfolio bonds, platforms and discretionary managers. The minimum investment required will typically be around GBP3,200 (USD5,000). |
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