Technology investment fund opens
Financial planners with clients seeking to capitalise on the growth in the tech-nology sector can now take advantage of the recently launched Technology Invest-ment Fund.
Financial planners with clients seeking to capitalise on the growth in the tech-nology sector can now take advantage of the recently launched Technology Invest-ment Fund.
Launched by Gresham Technology Management, the new fund will be managed by Te-chInvest, headed by Paul Davis.
Davis previously ran the listed technology investment company Nova Pacific Capi-tal, now trading as E*Trade Australia.
The fund will be open to retail and wholesale investors and will be the only listed vehicle in Australia to provide access to listed technology sector in Australasia and the US.
Gresham hopes to raise $50 to $75 million through the issue of 50 million $1 units with the right to oversubscribe up to 25 million units, and a minimum in-vestment of 2000 units.
The fund will concentrate on up to 20 Australian and 20 US-based technology com-panies at one time and will not buy more than 10 per cent of any company it in-vests in or invest more than 10 per cent of funds under management in any one company.
The fund intends to invest primarily in listed securities but will also be able to acquire pre-IPO and unlisted securities.
AUTHOR
Jason Spits
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