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Saturday 27 October 2012

Sturgeon Capital Launches First Central Asia-Focused UCITS Hedge Fund


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Sturgeon Capital has launched the Sturgeon Central Asia Equities Fund, a UCITS hedge fund that will invest primarily in equity securities of companies listed on regulated markets but which have a substantial exposure to Central Asia and the supporting regional macro growth dynamics.

The Undertakings for Collective Investment in Transferable Securities (UCITS) are a set of European Union Directives that aim to allow collective investment vehicles to operate freely throughout the EU on the basis of a single authorisation from one member state. Throughout Europe approximately €6.8 trillion are invested in collective investments. Of these funds about 76% are UCITS.

Taco Sieburgh Sjoerdsma, chief financial officer of Sturgeon Capital says:

We have been investing in regional equities, both locally and internationally listed, since the firm was founded. Investors have often asked us to create an equity-only strategy focused on Central Asia and we have always considered doing so since 2006. We have been watching local stocks and markets for over 12 months with a view to launching such a strategy, and in our view this is now an excellent time to do so.

The fund has a strong supporting infrastructure with Credit Suisse providing custodian and administration services out of Luxembourg, as well as brokerage support. Asset management company Lemanik Asset Management is providing risk management and distribution support.

Steve Bernat, head of global distribution for Lemanik, says:

We are delighted to partner up with Sturgeon Capital and provide their fund with a robust risk management infrastructure. This has become paramount in today’s environment, where investors are looking for protection in a highly controlled framework. We also believe that there are great distribution opportunities for the new fund as investors are keen on established, well performing managers that can offer niche products.

The fund is initially available in USD, EUR and GBP share classes. The minimum initial investment for retail investors is USD/EUR/GBP 5,000 and 200,000 for institutional investors. Domiciled in Luxembourg as a sub-fund of Sturgeon Capital Funds UCITS SICAV, the Sturgeon Central Asia Equities Fund has weekly dealing with no notice period or exit fees.

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