London firm offers BVI-domiciled Modern Art Fund for Investments

The UK-based company Castlestone Management, which established the Collection of Modern Art fund, – a mutual fund registered in the British Virgin Islands,- has begun its marketing to foreign investors. The BVI fund was set for launch as eight-year art investment vehicle at the end of May. Now it is positioned as the only one currently available to individual investors at the low minimum investment requirement of $10,000, or £10,000, to attract investors from the U.K., Europe, Asia, Middle East and South America.

Castlestone said it has already secured $25 million for the BVI fund, plus another $25 million in commitments. The firm is going to create a diversified collection of museum-quality modern art including impressionist works, sculpture, post-war art, urban art and photography. Also, the firm is designed to run for eight years in order to get long-term returns, not a quick trading scheme.

Castlestone said, “The fund’s manager has been advising on modern art investment since 2000. We will be supported by representatives from top auction houses, dealers and artists themselves.” According to the firm’s information, current prospects for art prices look very good, as increasing urbanization around the world has led to a global boom in museum construction.

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