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NewGen reports 2010 perfomance for the NewGen Mining Fund SPC and NewGen Mining Fund LP of 88.7% (net) and 84.4% (net), respectively.
NewGen announces the launch of the NewGen Mining Fund LP for Canadian Accredited Investors.
NewGen launches the NewGen Mining Fund SPC for offshore investors.
NewGen launches the NewGen Mining Fund SPC for offshore investors.
Monday | Nov 9, 2009 12:45 PM
NewGen Asset Management is pleased to announce the launch of the NewGen Mining Fund SPC as of November 9, 2009, an open-ended investment vehicle incorporated in the Cayman Islands. The Fund aims to achieve superior, long-term, absolute returns on strategic investments within the global mining industry”. The Manager believes that commodity prices are in the early stages of a major bull market driven by the twin forces of industrialization and urbanization in emerging economies at a time when significant supply limitations persist.
The Fund will be comprised of positions that are selected through a rigorous research process, which will be supported by constant communication and ongoing due diligence. Investments will include advanced explorers, emerging developers and high-growth producers across all market capitalizations. Every company must offer (1) world class projects; (2) strong catalysts; (3) proven management teams; and (4) takeover potential (low cost, large-scale, stable jurisdiction).
A concentrated portfolio of approximately 30-40 high-conviction holdings will be actively managed. Downside risk will be mitigated though a combination of hedging strategies and active portfolio management, while liquidity will be closely monitored. Net exposures will be frequently adjusted in accordance with market conditions and typically range from 50-150%.
The NewGen Mining Fund SPC has a minimum subscription of US$100,000. It will be priced monthly, have no minimum lock-up and no initial subscription or redemption fee. The management and performance fees are 1.8% per year and 20% (hurdle rate – USD 1-yr risk free rate), respectively.
“We believe that the timing is ideal for a new investment vehicle designed to efficiently capitalize on the long-term bull market for metals & minerals. We have launched the NewGen Mining Fund in response to considerable demand for a new fund that offers exposure to only the highest-quality investment opportunities within the mining industry. We believe our experience and extensive network places us in a unique position that will provide us with ongoing idea generation and unparalleled access to high-quality deal-flow.”
NewGen Asset Management Limited
Commerce Court North, Suite 2900
25 King Street West, P.O. Box 405
Toronto, ON, Canada M5L 1G3
Phone: 416-941-9111 Fax: 416-941-0012
Email: ddattels@newgenfunds.com
Website: www.newgenfunds.com
