Ashburton has unveiled a global energy fund as part of its new Ucits fund range.
The Luxembourg-domiciled Ashburton Global Energy fund is a Ucits IV fund, with Asburton fund manager Richard Robinson appointed lead manager. Robinson is also currently lead manager of the Ashburton European Equity fund.
Alan le Maistre is assistant manager on the fund, in addition to his position as assistant manager for Ashburton’s European equities team.
Using the MSCI Energy Index as a benchmark, the fund looks to invest a minimum of 75 per cent in companies involved in oil, gas, coal, renewables and other energy sources listed globally.
It also has the capacity to invest up to 10 per cent in unlisted companies. There is an additional option for the fund to invest in other funds, including ETFs.
The minimum investment is $10,000 for the retail share class and $100,000 on the institutional share class. The fund carries a maximum annual management fee of 1.5 per cent, depending on the share class.
The introduction of the Ashburton Global Energy fund comes closely after Ashburton launched its Africa Equity Opportunities fund at the end of May.
Investment Quorum chief executive officer Lee Robertson says: “We would watch this kind of fund at the moment but we are not ready to commit to such a specialist fund.
“That is not to say we don’t think energy is really important as an up-and-coming asset class. With growing populations and diminishing resources, it is an interesting area.”