Bramdean Alternatives, a fund of alternative funds floated in July by well-known asset manager Nicola Horlick, has registered a 2.7% investment gain in the five months to the end of December but is yet to recover its set-up costs.
The fund said its net asset value at the end of December was 99.41p a share. Investors had bought into the fund at 100p a share in July, raising £131m (â¬176m) before costs. The expenses of launching the fund took the net asset value down to 96.79p a share, calculated as at the end of July.
