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Top rated US boutique to launch first Ucits-compliant fund

Top rated US boutique to launch first Ucits-compliant fund

The investment boutique behind the top performing US small cap equity fund is set to launch its first directly-run Ucits-compliant fund, it has emerged.

Granahan Investment Management is scheduled to launch the new fund next month, according to a document seen by Citywire Global.

It will mark the first directly-managed fund for the Massachusetts-based group, which, to date, only runs mandated strategies available for international investors.

Part of the new fund will be drawn from the strategy of its existing Small Cap Focused Growth fund, which is run by Andrew Beja.

The fund will be Irish-domiciled and will be called the US Focused Growth fund.

A spokesperson confirmed the launch to Citywire Global and that Beja will be the lead manager. However, they were unable to state what the full focus of the Ucits-compliant fund will be.

The new approach will look to build on the reputation of the top performing Vanguard US Discoveries fund, which is run on mandate by four Citywire AAA-rated managers from Granahan Investments.

The move comes shortly after Vanguard moved to stem flows into the US Discoveries fund after assets increased from $25 million to $160 million over the course of 2013.

The Small Cap Focused Growth fund has been available to US investors since August 2007. This fund focuses on achieving sustained growth of 15% or more over a near-to-mid-term time horizon.

It has been overseen by Andrew Beja since he joined the firm in 2011, who will also run the Ucits-compliant vehicle. 

The Vanguard US Discoveries Inv USD has returned 84.9% over the three years to the end of January 2014. This compares to a rise of 57.55% by its Citywire benchmark, the Russell 2000 Growth TR.

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