JO Hambro Capital Management Group is making its debut into the retail fund market with the European fund, its first open-ended investment company (Oeic).
Registered in Dublin, the fund will be run from London by Rod Marsden and is aimed at medium-risk clients who are looking for growth from some exposure to Europe.
The fund will invest in a spread of between 50 and 70 European companies listed on the FTSE S&P world Europe ex UK index. At least 85 per cent of the fund will be invested in Europe, covering a wide range of sectors and will be based in Western and Central Europe. There are no plans to invest in companies based in Eastern Europe. The remaining 15 per cent will be invested in global stocks
Marsden, who joined JO Hambro in September 2001 after spending eight years at Sanwa as head of pan-European equities, will choose the companies by using a top-down bottom-up approach. He will pick sectors that look promising and then identify companies that have good long-term prospects.
The European fund is one of several that have appeared in recent weeks, such as the Morley European focus fund and the Royal & SunAlliance European prime fund. All three are Oeics that will use stockpicking to identify the best prospects in Europe. However, the JO Hambro fund will invest in up to 70 stocks, spreading the risk about more than the Morley and Royal & SunAlliance funds, which both invest in about 30 stocks.