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Elite Advisers launches fund to stand the test of times

Monday, October 18, 2010

From Precy Dumlao, Opalesque Asia:

Luxembourg-based Elite Advisers S.A. wants to prove that time is indeed precious with the launch of Precious Time, a new fund dedicated to preserving rare vintage watches, which is expected to generate an annual 15% returns.

Elite Advisers said in its recent fund fact sheet that collectors of vintage watches have known for years that timeless precious watches provide safe havens for their investments and collecting them is a valid form of alternative investment that has little correlation with other assets.

The fund’s objective is to generate optimal capital gains over the medium to long term by purchasing, holding and selling rare collectors’ watches, principally Patek Philippe.

Unlike the financial markets, the prices of vintage watches are determined solely by demand for luxury goods, for which the already limited supply will continue to shrink. It added that the collectors’ watch market is a relatively new market (established around 25 years ago).

This is the first open-ended Luxembourg investment fund dedicated to vintage watches, and it invests especially Patek Philippe, Breguet, Rolex, Cartier, Audemars Piguet and Vacheron Constantin. Managed by Alfredo Paramico, the fund aims to build a 400-strong portfolio of watches, including both unique collec......................

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