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Orbitex is Bidding for clarity in retail move

Institutional fund manager Orbitex has launched its first funds for the UK retail market, promising to bring institutional clarity to what it believes is an opaque arena.

The three Oeic sub-funds – managed, global equity and UK equity funds – were soft-launched in December and are being rolled out to IFAs this week.

The managed and UK equity funds are clones of existing Orbitex pension funds, previously available to the retail market only through a self-invested personal pension. The global equity fund will be similar to Orbitex&#39s existing institutional global equity fund but will not have geographical restraints.

All funds will hold a tight portfolio of 30 to 50 stocks, and will be managed by chief investment officer Robin Geffen. Initial charges are 5 per cent and annual 1.6 per cent. Minimum investment is £1,000. A discount of 1 per cent is offered to the end of the tax year.

US-owned Orbitex launched into the UK institutional market at the end of 1998 and was keen to build at least a three-year track record before looking at retail. Its launch into the retail market – exclusively revealed in Money Marketing in September – comes after demand from IFAs.


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