The Phoenix UK Fund
The Phoenix UK Fund is a Bahamas-based mutual fund advised by Phoenix Asset Management Partners. It is the principal vehicle through which we implement the Phoenix investment approach. The staff of the company are significant investors in the Fund.
The Fund holds a concentrated portfolio of 15 to 20 stocks. The holdings have always been UK-listed companies although the prospectus does allow the Fund to hold non-UK companies.
The Fund’s assets are held in custody with its own segregated CREST ID. The Fund is independently administered by Citco Fund Services (Bahamas) Limited.
The Fund has monthly dealing and quarterly redemption dates. The minimum initial subscription is £100,000 and investors are institutional and high net worth individuals.
Management fees are 1% per annum of the Fund’s NAV and performance fees are 20% of performance above the previous high water mark adjusted for inflation.
PHOENIX UK FUND Ltd.
NAV estimated 22 Feb 2012
Class A = £2,927.62
Class B = £2,899.67
PHOENIX UK FUND Ltd.
NAV reconciled 31 Jan 2012
Class A = £2,591.64
Class B = £2,566.89