Product Launch
September 14 2006 - 3:02AM
UK Regulatory
RNS Number:9332I
Absolute Capital Mgmt Holdings Ltd
14 September 2006
ACMH launches German Retail Hedge Fund Product
("ACMH" or "the company")
Absolute Capital Management Holdings Limited, the investment management Group
focused on delivering investment returns through the management of absolute
return funds, is pleased to announce the launch of a German retail hedge fund
product for both private and institutional investors called The Absolute
Diversified Certificate through SEB bank in Germany.
The Absolute Diversified Certificate was launched on 28 August and is designed
to enable private investors to participate in the absolute return funds managed
by ACMH with a minimum investment level of Euro5,000. The fund is also open to
institutional investors with a minimum investment level of Euro250,000. The
Absolute Diversified Certificate is issued by the Scandinavian Bank SEB, which
is listed on the Stockholm Stock Exchange and is one of the largest Nordic banks
capitalised at approximately Euro15bn.
The Absolute Diversified Certificate is aiming to attract Euro100 million from
private and institutional investors. The product has been created to deliver
absolute returns for risk conscious investors and has a 40 day notice period
from the month end ensuring good liquidity.
ACMH manages 8 funds, two of which were launched on 1 July 2006; The Absolute
India Fund and The Absolute Activist Value Fund. The table below shows the
performance to 30 June 2006 of 6 of the managed funds.
Performance
--------------------------------------------------------------------------------------------------------------
Year to Since Open / Down
Size Month Date Inception Annualised Closed Months
--------------------------------------------------------------------
Single strategy Launch date $ m % % % %
Absolute Return Europe Mar-02 447.2 0.80 4.25 101.90 17.60 Open 2 out of 52
European Catalyst Fund Oct-03 218.2 1.08 4.58 73.96 22.30 Closed 4 out of 33
Absolute Germany Fund Jan-04 199.2 0.15 9.89 66.80 22.71 Closed 2 out of 30
Absolute East West Fund Jul-05 94.1 1.38 16.64 28.73 28.73 Open 1 out of 12
Absolute Octane Fund Jul-05 215.4 2.19 15.10 70.79 70.79 Open 1 out of 12
Absolute Large Cap Fund Feb-06 53.1 2.51 14.32 14.32 37.90 Open 1 out of 5
Sean Ewing, Chairman and CEO of ACMH added;
"Today's announcement represents our first move into the retail space enabling
investors to access our funds at a reasonable entry level. We believe there is
significant scope to develop our presence in this market and we are actively
considering similar retail products for other markets,"
Retail Product Statistics
--------------------------------------------------------------------------------
Name of certificate Absolute Diversified Certificate HOMM Select
I
Security no. (B tranche) SEB1Z4
Minimum investment amount
(B tranche) EUR 5,000
Security no. (A tranche) SEB1Z3
Minimum investment amount
(A tranche) EUR 250,000
Currency euro
Term 5 years
Financial leverage 1 - 1.5
Financing costs EURIBOR + 1.25 % p.a.
Certificate volume EUR 100 million
Appropriation of income capital growth
Liquidity Month-end, with a 40-day notice period
Issuer SEB AG, Frankfurt
Issue price EUR 100 per unit
Front-end load 4.90 %
Certificate fee 0.35 % p.a.
For further information please contact:
Media Enquiries
Tim Robertson, Cardew Group + 44 207 930 0777
+ 44 7900 927 650
tim.robertson@cardewgroup.com
Investor Enquiries
Ross Thompson +41 44 286 9010
ross@abcapman.com
Notes to Editors
About Absolute Capital Management Holdings Limited
Absolute Capital Management Holdings Limited is a specialist fund management
company focused on delivering investment returns through the management of
absolute return funds, launched in 2001. The company has offices in Spain,
Germany, Switzerland, United Kingdom and Cayman Islands. The group manages 8
funds and has over $1.2 bn under management.
Assets Under Management
-------------------------------------------------------------------------------
30 June 31 December 30 June
2006 2005 2005
$m $m $m
Absolute Return Europe 447.2 346.7 291.3
European Catalyst 218.2 211.8 129.8
Absolute Germany 199.2 167.8 124.2
Absolute East West 94.1 41.8 -
Absolute Octane 215.4 72.9 -
Absolute Large Cap 53.1 - -
Absolute India launched July -
Absolute Activist Value launched July -
------------------------------------------
1,227.2 841.0 545.3
------------------------------------------
* 21 August 2006: the company announced its interim results for the period to
30 June 2006 with assets under management up 125% since 30 June 2005, and up
46% since 1 January 2006. ACMH also reported that Pre-tax profit was up 142%
(compared to 6 months to 30 June 2005)
* 1 July 2006: launched the Absolute Activist Value Fund which seeks to raise up
to Euro1 billion and primarily invests in European companies where pro-active
measures unlock significant shareholder value
* 1 July 2006: launched the Absolute India Fund with ASK Raymond James
Securities India Private Limited to deliver superior absolute returns in a
geographic area of huge opportunity
* 20 June 2006: the company acquired TCA Group Ltd as part of a strategic move
to enter the Capital Introduction and Fund Distribution arena and create
opportunities to add significant new funds and find other emerging and
talented managers
* June 2006: joint-winner of Best Hedge Fund Group at Hedge Funds Review's 2006
European Performance Award ceremony
* 3 March 2006: ACMH listed on the UK AIM
* February 2006: ACMH launched the Absolute Large Cap fund to provide investors
with exposure to highly liquid larger capitalised stocks throughout the globe
ACMH Investment Achievements -
No. 1 Best Hedge Fund Group, 2006 - Hedge Funds Review
No. 1 European Event Driven Fund, 2005 - Eurohedge
No. 1 Risk Adjusted Long/Short Fund 2005 - Barclay Group
No. 1 European Long Short Fund, 2002 - HFI
No. 1 Germany Fund over 1, 2 and 3 years, 2004 - Micropal
This information is provided by RNS
The company news service from the London Stock Exchange
END
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