The company said the new share classes will make the Tideway UCITS Funds – Global Navigator Fund more attractive to retail investors. Currently it is available only in a sterling version.
Managing partner James Baxter said the fund aims to generate 6% to 8% per annum in returns, net of fees, with low volatility, of which 4% to 5% is generated as income.
He said the income is distributed on a quarterly basis to income share class holders without having had tax deducted.
The fund, which was launched in September 2011, has returned 20% to investors up to the end of November, and is currently No. 1 in the FE Trustnet offshore Absolute Return sector, as well as No. 2 in the domestic Absolute Return sector. (see chart, below.)
Tideway was founded in 2009 by Baxter, with partner Peter Doherty – who manages the Global Navigator fund – joining in 2010.
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IA fund fact box |
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Name |
Tideway UCITS Funds – Global Navigator Fund |
|
Domicile |
Luxembourg |
|
Launch date |
6 Sept 2011 |
|
FE Trustnet Sector |
Absolute Return |
|
Manager |
Peter Doherty |
|
Minimum initial investment |
£2,000 or currency equiv |
|
Minimum additional investment |
£1,000 or currency equiv |
|
Performance fee |
|
|
Size (16/01/2013) |
£20.4m/$32.6m |
