Iveagh fund adds additional share classes for retail, institutional plays. Iveagh, the London-based family office of the Anglo-Irish Guinness family and an investment consultancy to select outside families, has expanded distribution for the retail-oriented fund it rolled out late last summer.

"In marketing the Iveagh Wealth Fund to investors via the financial adviser community, it became clear to us that there was also a great demand from institutional customers as well as a need from advisers to have access to the fund via the [retail] platforms," Inveagh's client-relations chief Marie-Laure Humbert told the U.K. financial journal CityWire.

Mud in your eye

Inveagh hasn't identified any of the fund complexes through which investors can get access to its multi-asset retail fund, which calls for a minimum investment of about $90,000. The annual management fee is 1.5%; the performance fee is 10% over hurdle.

In addition to expanding retail uptake for its fund, Inveagh has added two new share classes: an institutional and a contingent deferred sales charge (CDSC) share class, which will sit alongside the current retail share class.

Launching the new shares classes lets Iveagh "respond to these demands and grow the assets of the fund in more diverse ways," says Humbert.

The institutional share class calls for a minimum investment of about $7 million.

The Iveagh Wealth Fund is co-managed by John Ricciardi and Cambiz Alikhani with guidance from Iveagh's investment committee. -FWR

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