New Corporate Governance Fund To Trade On The Irish Stock Exchange

by Carla Johnson, Investors Offshore.com

29 July 2005

A new corporate governance fund that will trade on the Irish Stock Exchange is set to be launched by value investor Guy Wyser-Pratte in September, according to reports.

The Turning Tactician, a monthly newsletter tracking value investors, has reported that the WPM Euro Value Fund will focus on stocks in Continental Europe, although its core holdings, which will vary from 10 to 15 positions, will consist of both onshore and offshore holdings, the latter of which will be handled by the Cayman Islands.

CitiGroup is to act as the prime broker and will also supply clearing services. The Bank of Bermuda meanwhile, will act as custodial bank. The dollar-denominated fund will trade on the Irish Stock Exchange, in Dublin.

Wyser-Pratte, a French-born American who saw active service in as a captain in the US army in the 1960s, first grew to prominence in the investment world in risk-arbitrage in the 1970's and 80s, redefining himself as a value investor in the 1990s. Since 1992, he has taken positions in almost 60 companies earning a reputed 26% annualised return in the process.

Wyser-Pratte is investing $20 million of his own money into the fund, which has a $2 million investment minimum.

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