Pease and Milne left Henderson Global Investors last year to set up Crux, taking the £1bn European Special Situations Fund they had been running with them.
They are now adding to this with the ‘all new’ offering. The fund will use the same investment approach as the mid-cap biased European Special Situations Fund. It will target long term capital growth through a concentrated portfolio of primarily large cap European stocks.
The fund may invest up to 10% in non-European listed global stocks, may also take unconstrained exposure to the Swiss market, and can allocate up to 5% in the UK.
The new fund has a sterling share class with a minimum initial investment of £1000 and a euro share class with a minimum of €5000. Both have a charge of 0.75%. An income share class will also be available although this will not be the principal objective of the fund, with anticipated yield of approximately 2.5-3.5%.
The managers will aim to buy companies which are ‘best of breed on a global level’ with an emphasis on where sales are generated rather than the companies’ country of origin.
