Cavendish launches Asia Pacific fund

Cavendish Asset Management has launched an Asia Pacific fund to be managed by Liz Evans.

It will invest in medium and large companies with a market capitalisation of more than $500m (£302m) from across the region.

The group says that while recovery remains uneven, optimism is returning to the Asian market and valuations at the moment are attractive.

Julian Lewis, the chief executive, says Cavendish is not calling the bottom of the Asian equity market or global stockmarkets, but the group does think current valuations are low compared with their historical peaks. It is now a significant risk not to be invested in equities, Lewis adds.

He also points to China’s continued strong growth, and the presence of some mid and large domestic companies in the country that have better growth prospects than their counterparts in the West.

The new fund is open to retail investment following a transition period in which some existing private client money was transferred into it, as well as capital from the firm’s parent company, the Lewis Trust Group.

Minimum investment is £2,500, the initial charge is 5% and the annual management charge is 1.5%

This latest offering is the fifth specialist fund the group has brought to the market this year, following on from the launch of the Cavendish European, Japan, Technology and US funds.

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