Cazenove Fund Management is offering an offshore European equity fund managed by former HSBC Asset Management star Chris Rice.
Cazenove restructured its pan-European team at the end of 2002 and swooped for five HSBC managers, including Rice and Tim Russell, who have worked together since 1998. Rice's performance at HSBC saw its European growth fund become a top-quartile performer.
The Dublin-based fund, to be launched in May, has no initial charge. Annual management fees are 0.75 per cent and 1 per cent. A retail share class will also be available. It will initially be targeted at multi-managers and private banks. Mirroring Rice's onshore European fund, it will use the FT World Europe ex UK Index as its benchmark.
The fund will aim to outperform the benchmark by 3 per cent every 12 rolling months.