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VAM launches American absolute return fund


Luxembourg-domiciled investment firm VAM Funds has launched The VAM Americas All Cap Fund.

The new fund is an equity fund with a focus on absolute returns and is managed by Eduardo Tomacelli, head of equities at Newscape Capital Group, and his team.
Tomacelli will be providing seeding with capital from existing investors coming across to the new fund.
The fund will:

  • Focus on the Americas including the largest economy and stock market in the world
  • 30-60 positions held at any one time giving a concentrated but diversified portfolio
  • Position sizes for single stocks between one per cent and six per cent of NAV at point of purchase
  • Sector concentration up to 30 per cent
  • Available in three currency classes – USD, GBP & Euro

Target asset allocation for The Americas All Cap Fund at launch is as follows:

  • Large and mid-cap emerging growth stocks 50-90 per cent
  • Small cap stocks 10-25 per cent
  • Trading around core or crystallising deep value positions five to 30 per cent
  • Primarily cash; also options up to 50 per cent

This target asset allocation is reviewed dynamically and driven by valuation, economic outlook and trend with a focus on controlling losses in times of market stress.
Nigel Watson, VAM sales director, says, “This is the second fund that we have launched in the past few weeks and we are delighted that another highly regarded fund manager has decided to place their fund on the VAM platform with all the benefits that this brings with regards to administration and distribution.” 

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