Miami-based Swiss Investment Group, an investment management firm presently focused on Latin America and operating out of the Bahamas, is introducing its first mutual funds. The five funds are primarily based on US currency for stability, and each uses several handpicked independent US institutional managers.

They are: U.S. Fixed Income, U.S. Large Cap, U.S. Small Cap, European Equity and the Global New Economy. The firm hopes to have $50 million in assets in the funds by the end of 2001, said founder and chief executive Detlef Kasischke.

The new no-load funds are available only to qualified U.S. investors, with a minimum of $1 million in assets, but they impose no limitation on their Latin American clients and will share that policy as they venture into the European market. All of the funds feature fees of 125 basis points, except the U.S. Fixed Income, which runs at 80 basis points.

The firm plans to sell the funds through a sales force of five Latin American-based sales people. All are recent MBAs from the University of Miami and Florida International University (FIU). It expects to increase the team to eight members eventually.

It will also distribute the funds through local banks in Latin America and offer the wealth management package for private-labeling.

SIG's business has centered on providing investors in the $1 to $20 million range with comprehensive financial services, with an aim at "helping transfer wealth to the next generation," according to the firm. It is also stressing asset allocation rather than individual security selection in the funds.

"Financial studies have proven that over 90 percent of investment return is based on selection the right mix of asset classes for your portfolio," said Kasischke. "This far outweighs the benefits of market timing and security selection."  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE