Banks to offer fine art fund

Barclays and HSBC are likely to offer their clients a fund that invests in fine art from this autumn...

Barclays and HSBC are likely to offer their clients a fund that invests in fine art from this autumn. The fund is being offered by Fine Art Services Limited, a company established in January. It will invest in museum-quality artists from around the world and specialist art buyers will be responsible for collecting art in their relevant sectors, which include old masters, modern, contemporary and impressionists. The fund is structured as a private equity fund and is aiming to raise more than £350m, with returns expected to range between 10% and 15% per year.