Moneyguru fund launches

Moneyguru is on course to launch a discretionary portfolio and a series of hedge funds, following it...

Moneyguru is on course to launch a discretionary portfolio and a series of hedge funds, following its listing on Aim. The company has completed a placing of new ordinary shares which raised £1.4m before expenses. The shares were placed at 3.5p each, giving the company a market cap of £7.5m. The first fund launch will come at the beginning of June and will be a discretionary portfolio targeting the high net worth individuals of top end IFAs. Ken Scott, managing director of Moneyguru, said: 'We plan to have the first discretionary funds in place at the turn of the month and the hedge f...