Fancy Some Horlicks - You Can Get It Locally

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Axa bond gives access to Horlick's alternatives fund for £1k

Axa Isle of Man says its exclusive link with institutional multi-manager Bramdean Asset Management was a result of Bramdean chief executive Nicola Horlick wanting to "democratise" her newly launched alternatives fund.

The Bramdean alternatives fund, which invests in private equity, hedge funds and other alternative asset classes, aims at wealthy clients and institutions.

Axa IOM has exclusive access to this fund of funds through a mirror fund which is available to retail investors through the company's offshore bond.

The mirror fund has a minimum investment of £1,000 but Axa IOM believes this is not too low for a fund of this type. It says the £15,000 minimum to access the bond wrapper and the fact that the average investment in offshore bonds is £200,000 means it will only be accessed by more savvy investors.

Axa offshore portfolio manager Christine Hall says: "We think the investment flexibility of the Ucits III and Nurs rules has helped to promote more long and short funds to retail investors. The £1,000 minimum on the mirror fund sounds very low but was set at this level by Bramdean to be less exclusive.

"Nicola Horlick uses the phrase 'democratising' the fund. Many investors are seeking to diversify."

 

But its not to all tastes says the FT:-

Low take-up in Horlick fund disappoints

By Josephine Cumbo

Published: June 12 2007 03:00 | Last updated: June 12 2007 03:00

Nicola Horlick's reputation as a star fund manager is under pressure after it emerged her boutique Bramdean Asset Management has raised just £33m since launching two years ago.

Ms Horlick launched Bramdean, which is primarily a fund of funds specialist, after nearly two decades in the industry including roles with Deutsche Morgan Grenfell, whom she publicly fell out with in the late 1990s, and as founder and chief of SG Asset Management.

 

who is she?

Biography

Nicola Horlick, already well-known in City circles, shot to national fame five years ago, after a row with her bosses at Deutsche Morgan Grenfell. She went public with that and captured the public’s imagination because not only was she a highly-paid success in the City, she was also bringing up five children.

Tragedy struck in November 1998 when her twelve-year old daughter Georgina died of leukaemia. But less than six months later, Nicola had bounced back, pulling in £2.5 billion worth of investment for previous employers, SG Asset Management. And she’d achieved that despite time off to have her sixth child, Ben.

Seen by some as an impossible role model and by others as a modern heroine, Nicola has a house in South Kensington as well as a farmhouse in Hampshire.

Written in 2002