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Opalesque Exclusive: UK`s Fortune to list Market Wizards Fund Limited on London Stock Exchange
Fortune Asset Management Limited (“Fortune”), a member of the Close Brothers Group, today announces that on Monday February 26th 2007 it submitted a draft prospectus to the Financial Services Authority (“FSA”) in connection with the proposed listing of Market Wizards Fund Limited (the “Company”) on the Official List of the UKLA and admission to trading on the LSE’s main market for listed companies. The Company is shortly to be incorporated in Guernsey, subject to regulatory approval, as a closed-ended investment company whose share capital will be issued in the form of dollar, euro, yen and sterling share classes.
The Company will aim to deliver strong risk-adjusted returns through investment in the Market Wizards hedge fund investment programme which was launched 7 years ago by Fortune’s current investment director, Jack Schwager, with the objective of seeking to provide investors with an attractive investment return together with transparency and liquidity through the careful selection of hedge fund managers and strategies.
It is intended that the net proceeds of the proposed placing and offer for subscription of the Company’s shares will be invested into an existing portfolio of managed accounts currently held within a Bermuda-registered trust, Market Wizards Fund Bermuda (“MWF Bermuda”). The managed accounts are held on a platform managed by HFR Asset Managem...................... To view our full article Click here
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