Solus is saddling up as it heads west for the first time with the US select opportunities fund.
Managed from Florida by Christian Bertelsen, the fund is an open-ended investment company. Solus is aiming the fund at medium-risk investors and will invest in between 50 and 60 US stocks, with market capitalisations of around US$5bn.
Bertelsen will be picking companies from different sectors that show good long term potential. This could include companies that are currently undervalued by the market, or which the market finds unfashionable. Including companies with good balance sheets, which have good earnings growth potential and which have had good dividend yields.
Bertelsen works for US-based Phoenix Investment Partners, which hires him out to manage funds for third parties. He joined Phoenix in 1997 and has also been managing the Aberdeen American opportunities unit trust since 1998.
According to Standard & Poors the Solus UK special situations is ranked 184 out of 230 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to August 28, 2001.