The Classic Car Fund

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wikicollecting

2015-06-26 10:51:55

The Classic Car Fund is an investment fund based in Liechtenstein, Germany. Managed by the Count of Custoza Family Office Ltd Zurich/Switzerland, it is aiming to invest €350 million worth of classic cars over a period of five years as a way to capitalise on the growth in value of classic cars in the last few years. The investment team also includes expects from Sotheby’s and Christie’s auction houses.

The minimum an investor can put into the fund is just €100. There is no lock-in period and the fund is aiming for an annual return of 17%.

The fund manager is car collector Filippo Pignatti Morano, CEO of the Count of Custoza Family Office Ltd, CEO of the Count of Custoza Family Office Ltd in Zurich.

The fund is aiming to purchase a 1962 Ferrari 330 TRI/LM Testa Rossa and a 1963 Jaguar Series I E-Type 3.8 Roadster.

Strategy

The Fund’s website claims that the it will, “under normal circumstances, invest an average of about 70% of the Fund’s assets in Classic Cars, the weighting may be changed in the reasonable opinion of the Investment Manager.”

It also states that some of the cars in the portfolio may be lent to museums, film studios and private exhibitions to generate further income.

Selection process

According to the Fund’s website, the investment manager believes that rarity, desirability and original value/ provenance are the key to a classic car’s future value.

Based on these factors the Fund classifies classic cars into the following five categories:

  • Type I – Classic cars that embody style, performance, historical significance, rarity and competition history
  • Type II – Classic cars with something special, e.g. a special innovation of that time, style or competition provenance
  • Type III – Classic cars with some special interest but few special or desirable characteristics
  • Type IV – Classic cars that are interesting but failed to become successful perhaps due to design and/or engineering flaws
  • Type V – Classic cars with few redeeming characteristics

From these categories, the Fun believe that Type I classic cars are most likely to appreciate in value in the future.

The team

Fund Manager

The fund manager is Filippo Pignattic Morana, CEO of the Count of Custoza Family Office Ltd in Zurich. He has experience in asset management with Credit Lyonnais and Deutsche Bank.

Advisors

Peter Blond – Served as non-executive director of Sotheby’s. Acted as Chairman of the car department for the last year of his term.

Daniel Brooks – 27 years experience in investment. Participated at Le Mans and Mille Miglia.

Consultants

Dr. Prof. Dirk Boll – Car collector and Managing Director of Christie’s, Zurich.

Jan Donghi – Classic car lover, attorney at law and partner in Losinger, Willimann & Donghi.

Jose M. Olivier – founder and president of St Moritz Automobile Club, president of the Aston Martin Owners’ Club Switzerland in the 1970s and 1980s.

Eleanor Thorneycroft – Marketing and event coordinator for the fund.

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