Later this month I’ll hit a small landmark, 10 years as a retail funds journalist.
During this decade I have been witness to many a fund launch, investing in all manner of sectors, countries and asset classes, be they the most plain vanilla or exotic.
A large number of these funds are sadly, but not altogether unsurprisingly, no longer with us.
It was of interest then when news of something new altogether arrived in my email inbox this morning.
“The fund will, under normal circumstances, invest 20-100% of its assets in classic cars”
The press release kicked off: “The Count of Custoza Family Office is proud to announce: The Classic Car Fund, based in Liechtenstein, will shortly be quoted on the German fund exchange.”
Nice. I love cars, but sadly will never afford a classic. The release, however, says this fund can hold a GTO.
It also claims to be the only fund worldwide that invests in the sector and the photo has a stately looking gent stood next to what we think is a Bugatti 57SC Atlantic.
So what’s the strategy? (article continues below)
“The fund will, under normal circumstances, invest 20-100% of its assets in classic cars. Whereas, it is expected that on average about 70% of the fund’s assets will be invested in classic cars, the weighting may be reduced to 0% if in the reasonable opinion of the investment manager.”
I could go into the selection process, but instead I will let the website do the talking: www.theclassiccarfund.com.
Now the sad news, judging from the fund structure and the “news” element of the story, is that as the fund is about to list on the German stock exchange it would seem not to be set up for British retail investors.
But at least the fund is something a little different and I got to spend five minutes looking at some lovely, lovely cars…