News round-up
Value Fund elevates; Milestone goes for Infiniti; Capital International fund rated unaffected
Monday, October 12th 2009, 5:00AM
Value Fund elevates
The Elevation Capital Value Fund, which invests in cash and global equities, has seen its net value rise by 0.87% in September and a total of 6.24% since inception in December last year.
The fund's strategy is to primarily buy stocks trading at a discount in relation to their net asset value, with low debt levels, and which have a history of paying dividends.
Funds under management currently stands at $1.05 million.
Milestone goes for Infiniti
Infiniti Solutions, the Christchurch arm of the Infiniti Capital group, has been selected as administrator for Milestone Capital's new private equity fund.
The Rutherford Innovation Fund was launched a couple of weeks ago and was established to raise capital to back innovative New Zealand companies which need financial assistance and business skills to commercialise their ideas on the international stage.
Infiniti Capital is a boutique asset manager which has historically specialised in emerging manager hedge fund of funds mandates.
Capital International fund rated unaffected
The Capital International Global Equities Fund, distributed by Pinnacle Investment Management, has been rated unaffected by changes to the way the global equities fund is to be managed.
The fund is set to change to four portfolio managers, where each portfolio manager can invest in their best global ideas, including emerging markets. The manager believes the portfolio will be better served by portfolio managers who can invest across regions
Under the previous structure, there were six portfolio managers, including three regional managers.
Changes take effect the third week of October and are indicative of the changes within the Capital Group over the last few years.
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