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Castlestone launches UCITS III-compliant fund
Posted: 3 March 2010
Castlestone Management has launched a UCITS III-compliant version of an already existing offshore fund. As of March 1, 2010, the multi-asset Intelligent Portfolio (IQ) Asset Allocation (UCITS) Fund was launched in a a UCITS III-compliant format.
The fund is a multi-asset fund with active managed exposure in global equity securities, global fixed income, commodity markets, money market instruments, global property and alternative investment strategies. The UCITS III-compliant version of the fund is aimed to improve the performance of the fund, and to appeal to investors in the UK and Europe with increased transparency and regulation.
"The ultimate goal is to give clients access to the kind of capital-preservation and absolute return characteristics of an offshore institutional style product, within the type of regulatory framework that gives investors confidence that they know what they are buying," said Leon Diamond, Head of Trading at Castlestone who is also the manager of the fund.
Castlestone has chosen to open a UCITS III fund to give investors greater assurance and security in their assets since UCITS III products have strict regulation rules under European Union legislation. The Irish Financial Services Regulatory Authority has approved the fund which is domiciled in Dublin.