Amerindo Investment Advisors Inc has announced plans to launch an investment trust in the UK.
The fund will be the fund manager's first presence in this country and will hit the market by March 15 at the latest.
A minimum investment of £1,000 will be required to buy into the trust which will be available to both retail and institutional investors. The fund,which will be capped at £400m, will focus on US companies involved in the internet and internet related businesses.
The investment trust will be traded as Amerindo Internet Fund plc, and is ISA compatible. It has been timed to effectively coincide with the tax season in the UK and will close on March 31.
The US manager has pioneered a style of investing called “crossover” where it tends to invest in companies 18 months to two years before they are ready to float with an IPO. This differs from other venture capitalists who usually get in at the very beginning supplying the necessary start-up funds and pull out when the company floats on the market.
Amerindo president Alberto Vilar says: “Amerindo has proven expertise in this field and has delivered very attractive returns over many years. We believe we understand the sector better than most other investors.”