Hume Capital to launch first global Oeic

Hume Capital, a London-based independent asset management firm, is to launch the Hume Global Opportunities fund, its first Oeic for the investment adviser market.

The firm, founded by Nitin Parekh, the former global chief investment officer for Credit Suisse Private Bank, hopes to launch in December following Financial Services Authority (FSA) approval.

The fund’s portfolio, managed by Parekh, will be invested in 40-60 mostly large and mid cap growth stocks. The aim is to offer lower volatility than similar equity funds by using the same risk management techniques as the group’s Asia Equity hedge fund. (article continues below)

The fund hopes to replicate the strategies used by the firm’s fund managers, Stephen Dowds and Stephen Watson, when they were managing the Northern Trust International Growth fund.