MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 12, 2004 Artful Play by Alternative Firm Fernwood Art Investments plans on bringing art to the masses. The New York research and investment firm is slated to launch funds and other products based on investments in art in early 2005, reported Reuters on Wednesday. Founder Bruce Taub said the funds' minimum investments would range from $100,000 to $5 million, reported Reuters. Fernwood plans on offering the funds at a "much lower price point" in the future. The products will not be mutual funds, said Michael Plummer, with Fernwood's New York office. The funds will resemble mutual funds in structure, but will not be '40 Act funds, said Jennifer Winn, senior vice president of marketing at the firm. Fernwood is also planning on launching "art partnerships" and other financial products, added Winn. Recently, experts have developed market indices based on sectors in art, such as "[f]rench impressionists, Dutch Old Masters, 19th century European, for example. Similar to sectors within the equities market (e.g., technology, energy, health care) these move in and out of favor over time, providing new choices for the sophisticated investor," stated Taub in a Boston Globe editorial. Other positive aspects of art as investments include low correlation with other assets and greater knowledge and data about art prices, stated Taub. Printed from: MFWire.com/story.asp?s=7802 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |