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Hume Capital to launch global Oeic

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Hume Capital, a UK investment firm specialising in active fund management, is set to launch an unconstrained Oeic fund.



Hume Global Opportunities Fund is currently awaiting FSA approval and is expected to launch in December.

The fund is the first fund for the intermediary market and follows Hume’s Asian Equity Hedge Fund.

The Oeic will invest in a focused portfolio of 40 to 60 growth stocks, with a large and mid cap bias, regardless of country or sector weightings. The fund’s aim is to offer lower volatility than conventional equity funds and, where appropriate, risk management techniques will be used in an attempt to limit downside capture.

The fund’s team of seven will be led by Hume Capital founder Nitin Parekh, former global chief investment officer of Credit Suisse Private Bank and chief investment officer of HSBC Hong Kong, who will advise on strategy and asset allocation.

The day-to-day portfolio management will be carried out by Stephen Dowds and Stephen Watson. Prior to their joining Hume, both were senior fund managers at Northern Trust Global Investments.

Parekh says: “This is our first fund for the professional adviser market. We are committed to and we will work with them as we build out to provide products to match their clients’ needs. This is an exciting time for the company. We have demonstrated our stock picking ability with our Asian Equity long/short relative value strategy achieving -2.4 per cent in 2008, compared with the MSCI Asia Pacific at -43.2 per cent. Since we launched the Asia Fund in February 2008 to end of September 2010 it is up 9.1 per cent with volatility at 4.5 per cent, whilst the MSCI is down 12 per cent with volatility at 26 per cent. We intend to replicate this success and extend the range of products following the Global launch.”

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