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Odey signs up to run first Caerus active fund

Caerus Portfolio Management has brought in Odey Asset Management to run its first actively managed fund.

The investment management arm of Keith Carby’s Caerus venture will launch a UK and European equity portfolio fund within the next two weeks. The fund is expected to raise between £25m and £30m and has an annual charge of 1.75 per cent.

Minimum investment is £3,000 and IFAs will be able to access the fund on the Transact, Ascentric, Nucleus, Axa Elevate and Novia platforms.

Carby says: “We want to work only with the best and for European and UK equity that is Odey. This connection brings hedge fund quality fund management to the ordinary investor.”

Allium Capital is helping Caerus design its portfolio management funds and select investment managers.

Allium managing director Ronan Kearney says: “This portfolio will be the first of our focused funds, which will invest in alternative asset clas-ses and pure equity.”

Caerus has attracted over 200 advisers since its launch November. It has already unveiled four low-cost investment funds, which will look to access asset classes pri- marily through ETFs.

Bestinvest senior investment adviser Adrian Lowcock says: “The annual charge is a bit higher than I would normally like to see, but you get what you pay for and it has got a good fund manager. Sometimes these smaller funds can be quite dynamic.”

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