Hamburg-headquartered private bank Berenberg has launched two new equity funds offering investors access to the European small- and micro cap sector.
The Berenberg European Small Cap and Berenberg European Micro Cap Fund will be managed by Peter Kraus, who joined the group earlier this month from Allianz Global Investors.
Holdings will be selected from a universe of 5000 European mid-cap stocks, with small cap defined as a market capitalisation of up to €5bn and micro cap as a market capitalisation of up to €500m. Both funds aim to have a high proportion of firms in their portfolio which are still owned by their founders. The average holding period of each investment will be three years.
Both funds are registered in Luxembourg and available in Euro denominated share classes and come at a running costs of 1.79% (Small Cap) and 1% (Micro Cap) respectively.