A relatively new investment house has launched a European portfolio investing in large-cap companies.

UK-based CRUX Asset Management, which is owned by its employees, has launched a European fund focusing mainly on large-capitalisation European equities.

Called the FP CRUX European Fund, it will be co-managed by Richard Pease and James Milne, and supported by analyst Roland Grender. The fund aims to deliver long-term capital growth.

Where the fund managers identify specific investment themes and opportunities which are not available in Europe, the fund has the flexibility to be invested up to 10 per cent in non-European listed global stocks. The fund may also take unconstrained exposure to the Swiss market and allocate up to 5 per cent in the UK, a statement from CRUX said.

The fund offers an income share class although income creation is not the principal aim of the portfolio.

For class one sterling shares, investors must allocate at least £1,000 at the start and there is a periodic charge of 0.75 per cent. On euro shares, there is a minimum initial investment of €5,000 and a charge of 0.75 per cent.

CRUX Asset Management was established last year.