Sunday, 9 March 2008

Fun with funds

Do you have some spare money you'd like to invest in art? Next to the Fine Art Fund, some new possibilities are popping up. The Vienna-based hedge fund company Sharpe Investments has an investment fund called Sharpe Art and an Italian fund manager is launching a new 150 million art fund, together with Simon De Pury.

"The art market did not suffer repercussions when the Internet bubble burst and it is doing extremely well today, even after the credit crunch," said Robert Tomei, chief executive of the Italian fund manager Advanced Capital, who is starting his third art fund.

The Tomei Advanced Capital Art Fund, run with the art dealer Simon de Pury of Phillips de Pury, will focus on contemporary art, photography and design and hopes to replicate the 20 percent annual returns he achieved with past funds.

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