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Clariden sells sector funds in Germany/Luxembourg

GERMANY/LUXEMBOURG/SWITZERLAND – Zurich based Claritin Bank is to launch a range of eight SICAV global equity sector funds in Germany and Luxembourg in October.

The eight new sector funds are as follows:
•technology
•communications
•media
•healthcare
•biotechnology
•commerce
•luxury goods
•finance

The funds will be quoted in US dollars except luxury goods and finance, which will be listed in euros. The launch price for each fund will be US$100 and euro 100 respectively.

With the exception of biotechnology, the funds will be benchmarked against the corresponding MSCI World sector indices. Biotechnology will be benchmarked against the Amex biotechnology index.

Clariden will take care of advisory and consultancy work in-house for the communications, biotechnology, healthcare and luxury goods funds, whilst Boston based Wellington Management will advise the others.

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