Sydney-based Australian equities boutique, EGP Capital has appointed Chris Cuffe as its new board member as the company has announced plans to launch the Concentrated Value Fund.
The firm said the fund would not charge a management fee and would only apply a performance fee in periods where it outperformed the benchmark, which meant it could only be paid during the years of positive performance.
The fund, which would be launched in August, would be expected to provide sophisticated investors with an opportunity to invest alongside the manager.
Also, it would be ‘soft closed’ at $50 million and investments would be limited to $2 million per investor, with a minimum investment amount set at $100,000, EGP Capital said.
At the same time, the fund would aim to replicate the existing strategy, with deep research into individual companies and their management while the eatures of the portfolio would include its “low turnover, flexibility of mandate, healthy yield, and the absence of leverage”.
