Platinum Capital Management has announced the launch of the Platinum Washington Fund Ltd, an equity long/short hedge fund it is making available to qualified investors.
The new Fund, launched today, seeks to maximize capital appreciation while minimizing risk by investing in a diverse portfolio of long and short U.S. equity investments. It pursues growth in all market conditions, which includes taking short positions.
This approach has proved successful for the fund managers, Washington Asset Management (WAM), whose domestic Washington US Fund (the same portfolio as Platinum Washington Fund Ltd) has generated a +31.6% year-to-date 2002 return (to end July) at a time when many long/short equity strategies have suffered and as the S&P 500 fell -20.6%.
“Washington features an exceptional investment team and the Platinum Washington Fund is an exceptional investment opportunity,” says Peter Sprecher, Chairman of Platinum Capital Management. “At Platinum we have been working hard to find and structure investments capable of delivering outstanding growth in all market conditions. As Washington’s short and longer-term numbers demonstrate, we have been very successful in that endeavor.”
Minimum investment in the Platinum Washington Fund is either US$150,000 or €150,000; and access to the Fund is also available via the tax-efficient Platinum Wealth Management Bond recently launched by Platinum in partnership with Hansard International, with as little as US$25,000 or €25,000.
Platinum Washington Fund Ltd: Summary
Target Return – 20% per annum
Fund Sponsor – Platinum Capital Management Ltd
Base Currency – US Dollars and Euro
Minimum Investment – US$150,000 or €150,000 or US$25,000 or €25,000 through the Wealth Management Bond
Investment Advisor
–
Washington Asset Management Ltd
Redemption
-Possible on 30 days notice prior to month end
Initial Charge
-None
Management fee *
–
2.5%pa
Performance fee *
–
25%pa on net new highs
* Note: including fees payable to Investment Advisor