Fulcrum to launch second LTAF
Fulcrum Asset Management has received regulatory approval to launch a long-term asset fund (LTAF) that will invest in range of private assets including alternative credit.
The WS Fulcrum Diversified Private Markets LTAF is the asset manager’s second fund using the LTAF structure, which is designed to make it easier for investors to access private markets.
Earlier this year Fulcrum launched its first LTAF on behalf of a single-employer UK defined contribution pension scheme. The second fund is expected to launch on the 29 November 2024. Waystone will act as the authorised corporate director for both funds.
Read more: Fulcrum LTAF gains FCA approval
The commingled, open-ended fund will target long term capital growth via exposure to a diversified mix of private assets including value-add real estate, value-add infrastructure, natural resources, alternative credit and private equity (including venture capital).
The WS Fulcrum Diversified Private Markets LTAF is an open architecture solution, with the underlying managers drawn from Fulcrum’s panel of illiquid specialists, a group which Fulcrum has assembled over several years.
These specialists are responsible for sourcing and implementing high quality illiquid investment opportunities. The product will offer a transparent, flat-fee structure.
Read more: Fulcrum AM: Some degree of ‘adverse selection’ is acceptable
“We are thrilled to be bringing our LTAF to the broader professional investor marketplace,” said head of Fulcrum Alternative Solutions Matthew Roberts (pictured). “We’ve taken time to ensure that we are offering investors a carefully designed entry point to private markets. Ever since we started the Fulcrum Alternative Solutions team, our goal has been to solve the challenges that investors have faced when it comes to accessing alternatives and this fund launch represents a significant milestone in that journey.”
Waystone global product head of regulated fund solutions Rachel Wheeler added: “LTAFs are building significant momentum and fast-emerging as critical vehicles for investment managers, wealth managers, foundations and pension schemes in the UK. We’re delighted to continue our partnership with Fulcrum and look forward to bringing our market-leading technology and highly specialised teams to bear on future fund launches.”
Fulcrum and Waystone were advised by Macfarlanes.
Read more: LTAFs look to diversify private markets exposure with multi-asset focus
