Alpha Growth PLC said its subsidiary, Alpha Growth Management LLC, was named investment manager of the Alpha Alternative Assets Fund.
The fund is an “innovative longevity-based interval fund, aimed at providing main street investor access to an asset class,” the group said in a statement.
The minimum investment in the new found is US$2,500 compared with US$250,000 at the company's BlackOak Alpha Growth Fund – opening it up a larger pool of investors.
The fund will be US focused with investors able to buy daily and withdraw their earnings quarterly.
A 5% annual dividend is expected to be distributed to investors, it said, with Alpha earning a 1.5% management fee for the assets it manages.
According to a statement, a daily share price and net asset value can be tracked and monitored by investors, with the NAV calculated on the underlying asset value it holds.
Net asset value of the fund is roughly US$7.2mln currently, although it said it expects this to rise as marketing commences.
Additionally, the group said it has concluded all steps to complete its acquisition of a Guernsey based insurance company and is awaiting the “final sign off from the regulatory authority.”
"I'm very pleased that we have been able to launch our interval fund ahead of schedule, both this and the Guernsey acquisition are important building blocks as we deliver upon our plan to be managing over $2bn of AUM by 2025,” said executive chairman Gobind Sahney