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Cazenove to add Euro focus fund

Cazenove is introducing a European focus fund to plug a gap in its range after IFAs and investors urged the firm to launch a more concentrated fund.

Provisionally due to launch around the autumn, the fund will be a best ideas fund holding around 45 stocks.

It will seek investment opportunities from across all sectors in Europe with what is likely to be a market-neutral approach.

Cazenove says it has not decided whether the fund will be a hedge fund or whether it will be listed onshore, with many investors showing an interest in an offshore version of star manager Chris Rice&#39s European fund.

Director of investment business Robin Minter-Kemp says a decision has also yet to be taken on whether Rice or another former HSBC manager, Steve Cordell, will manage the fund.

Minter-Kemp says: “It is hard to say who would run it. Both managers have shown serious expertise.”

Chelsea Financial Services managing director Darius McDermott says: “There are not many European focus funds. But Cazenove has assembled a strong team. If anyone can make a go of it they can.”


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