18/08/2010 Author: Ben Haidari

Custom House launches Sicav platform for emerging managers

Fund administration firm Custom House Global Fund Services has announced the launch of The Nascent Fund Sicav, an open-end Sicav umbrella fund platform aimed primarily at emerging and start-up managers with assets under management (AuM) of $5m - $10m

The structure of the Nascent Fund allows for the segregation of each sub-fund in order to avoid any cross-collateral risk. Additionally, the portfolio of each sub-fund will operate through an independent incorporated trading company, with each manager having full control of the sub-fund. 

Managers will be able to separate from the umbrella platform at any time to re-establish their sub-fund as an independent entity, transferring ownership of his trading company and its track record, to the new fund. 

“The market lacks a credible and cost-effective solution to support bright emerging managers who are having difficulty, in the present market environment, in raising seed capital from anywhere except their family and friends and therefore find themselves unable to launch funds with sufficient critical mass to operate economically in their first few years,” said Dermot Butler, chairman of Custom House.

He continued: “The Nascent Fund provides exactly the platform of support that these managers need whilst they establish themselves and build their track records and assets under management.”