First Irish-regulated art fund to launch in May

January - Anthea art Investments plans to launch the Anthea 1 Contemporary Art Investment Fund in May making it the first closed-end art fund to be authorized by the Irish Financial Services Regulatory Authority.  The fund will focus entirely on artworks from 1945 to the present day and is targeting at least Euros 30-40 million at launch. 

The fund will invest around 70% of its portfolio in works by such established artists as Jeff Koons, Jean-Michel Basquiat and Frank Stella with up to 20-25% of the portfolio to be used to acqure iconic pieces that have particular historical or cultural value or are especially fine examples of an established artis's work.  Around 10% of the portfolio will focus on successful artists from emerging economies, and roughly 2% will be invested in works by emerging artists.  The remaining 18% or so will be used to make price arbitrage investments by picking up artworks below market value via distressed situations and art auctions. Read more