Edinburgh-based investment manager Blue Planet, has launched its first hedge fund, Blue Planet Global Financials Fund. The new fund will ...

Edinburgh-based investment manager Blue Planet, has launched its first hedge fund, Blue Planet Global Financials Fund. The new fund will be targeted at European private client brokers, discretionary advisors and high net worth individuals. There will be a minimum initial investment of €100,000 ($120,000) with a 1.5 per cent management fee and 20 per cent performance fee. As its name suggests, the fund will concentrate on global financial organisations, particularly banks. It is also expected to have a strong presence in emerging markets. Blue Planet’s three current investment trusts which have all outperformed their respective benchmark and have been ranked 1st, 2nd and 5th out of 260 funds in terms of share price appreciation in 2005. “Prospects in the global banking market in the next 10 years are extremely positive and we expect to make considerable profits for our investors during that period,” said Ken Murray, chief executive of Blue Planet.