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Reilly's new fund Back  
As reported in last month's FINANCE, Chris Reilly, former chief investment officer of Bank of Ireland Asset Management (BIAM), is to manage a new fund for the firm.

The 'Newgrange Fund', which is a concentrated equity fund will raise up to €500 million from private investors with a significant risk appetite and €5 million or more to invest. It is expected that the fund will achieve its target by the end of January 2007.

Commenting on his new role, Chris Reilly said, ‘This fund gives me an opportunity to back my conviction around a relatively small number of investment ideas. I will be managing the fund in a completely unconstrained way, so I won’t be focused on benchmarks or market indices - my only concern will be to generate substantial returns for investors. Right now, I believe that much of the untapped market opportunity is in the large cap area, where a significant number of stocks are currently undervalued'.

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