Luxembourg-based firm Art & Motion has launched an investment fund dedicated to vintage cars and other prestige automobiles.
The promoters of the fund, Laurent Lefebvre and Alain Mestat, target wealth managers seeking diversification and looking to address demand from certain clients.
Art & Motion seeks annual net returns exceeding 7% over the long term, adding that its short-term investment strategy is expected to pay a dividend at the end of the second year of the fund.
Lefebvre is the son of Oscar Lefebvre, founder of French collectible car repair shop Atelier des Côteaux, and responsible for managing the investment vehicle.
Mestat is a former marketing and communication director at Edmond de Rothschild group and is in charge of the operational management and marketing of the fund.
Collectible cars investments were discussed last August on InvestmentEurope.