Portman Asset Management, a wholly owned subsidiary of the London- based United Bank of Kuwait, is to launch a new fund in late March that will offer clients the chance to take advantage of a range of investment opportunities.

The Portman Umbrella Fund will initially invest in three new funds now being set up.

These funds will cover commodities, emerging markets and equities in OECD countries. All the funds will be registered in Dublin, and new funds may be introduced under the umbrella fund when opportunities arise. The funds will be managed by external managers, which have already been identified. However, Portman will be responsible for asset allocation of the umbrella fund

The umbrella fund will initially be aimed at UBK’s existing institutional clients, but may be opened to private clients at a later date. Clients will have the option of investing in one of the sub-funds or in the umbrella fund.

The minimum investment is £Ire 225,000 ($352,000).