Crux Asset Management launches first new fund

Boutique investment firm Crux Asset Management has launched its first new fund since forming the business, which will primarily target large cap European stocks.

The FP Crux European fund, which will be co-managed by Richard Pease and James Milne, can also cover up to 10 per cent of non-European listed global stocks. 

It can also take unconstrained exposure to the Swiss market and allocate up to 5 per cent of assets in the UK.

The managers will use the same approach as the mid-cap targeted £1bn Crux European Special Situations fund, which Pease brought over from Henderson Global Investors when he left the manager.

This approach includes a focus on companies that are not highly capital intensive but can generate good cashflow, as well as companies with high barriers to entry and strong pricing power.

The fund will also have an income share class, targeting yield of 2.5 to 3.5 per cent.

Pease says: “We are very pleased to launch the first completely new fund for Crux Asset Management. With the flexibility built into this fund we can offer our investors the most attractive European opportunities.”

Crux Asset Management chief executive officer Alistair Reid adds: “With the successful transfer of the Crux European Special Situations Fund and the recent appointment of Karen Zachary as our new COO, the company is on a stable and strong footing for new business.

”Richard’s experience of running similar mandates for many years means our clients can have every confidence that they are investing their money with an established and successful fund management team.”

The minimum investment for the fund is £1,000 and annual charges are 0.75 per cent.