WANTAGH, N.Y., Aug. 25, 2015 /PRNewswire/ -- The recent spate of market volatility has led to an outcry by investors for a better alternative to the daily wild gyrations of the stock market. Rolling Art Advisors provides that alternative.
Rolling Art Fund 1 is designed to provide investors access to an emerging asset class that is non-correlated to equity markets. "The collectible car market moves in negative or near negative correlation to equity markets. In this environment, who wouldn't want to reduce their portfolio's correlation to the volatility of the stock market?", argues Fund Manager Joshua Wekstein.
The fund is seeking to raise $25-$50 million dollars in order to acquire a portfolio of 8-12 limited production collectible sports cars which equate to automotive treasure. The fund provides investors exposure to this market, which in the past has proven difficult due to the high ownership costs and capital outlays required to obtain a portfolio of high end collectible cars. "Most investors don't have the time or expertise needed to obtain and maintain a portfolio of collectible cars, let alone the financial resources to do so", says Wekstein.
Co- Founder and fund manager Marc Sharinn explained that some high-end collectible sports cars could sell for as much as $5-$10 million dollars, and that higher prices were not uncommon. Recently, a McLaren F1 sold at auction for over $13 Million. "These cars come at a tremendous expense, making direct investments in the space nearly impossible for most. Our fund solves that problem", says Sharinn.
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SOURCE Rolling Art Advisors