Platinum Capital Management, the international financial investment group has announced that strong demand for its new product, the Platinum Washington Fund Ltd, has led to only $150m further investment capacity being available to new and current investors.
The demand for the long/short US equity fund has been fuelled by exceptional performance by the investment manager, Washington Asset Management (WAM). To the end of September 2002, the WAM portfolio (an exact US domestic parallel to the Platinum Washington Fund) has gained some 33% in the first nine months of the year (including a 1.7% gain during September) and over 135% since January 1999.
The new Fund, launched on September 2nd, 2002, seeks to maximize capital appreciation while minimizing risk by investing in a diverse portfolio of long and short U.S. equity investments. It pursues outstanding growth during all market conditions, which includes taking short positions.
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 Capital Management is an international financial investment group, head-quartered in London and with a series of international affiliates. The Group develops and distributes structured products on funds of hedge funds, offers private wealth management services and acts as an international partner for US hedge fund managers.