DOMINION, a Swiss and Channel Islands-based investment manager, has launched a new open-ended vehicle, which it said is the world's first retail fund to comprehensively cover the fashion, luxury goods and services sector.
The new CHIC OEIC will invest in a range of companies, such as LVHM, Burberry, Bulgari and Oakley and leisure brands such as Apple, L’Oréal, BMW and Sony. The fund has a minimum investment of £5,000, weekly liquidity and is targeted at the ‘mass affluent’ sector. BlackRock Merrill Lynch Investment Advisers is the investment manager on the fund. The fund will have a core portfolio of companies with a minimum market cap of nearly £700m. However, up to 20pc of the fund may be invested in companies intending to IPO and small and mid caps. Alex Bell, chief executive of Dominion,...
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