Rocksure has announced the first closing of the Rocksure Crystal Fund with almost GBP 2 million raised. With this closing, the fund will purchase their first two properties - villas in Andalucia, Spain and Antigua. In addition to these two properties, early investors also have use of all Rocksure-owned villas using their current Crystal Fund entitlements.

How the Crystal Fund Works

Investors in the Crystal Fund own shares in a Cayman Island holding company. The fund is offering forty-five full units of 1,000 shares that are valued at GBP 238,000, making the total fund GBP 10,470,000 with early bird discounts. Depending on the average number of weeks needed, investors can also choose to purchase 1/2 and 3/4 units. A half unit will equal about 2-3 weeks of use, while a full unit will equate to 4-6 weeks. The fund is planning to purchase six 4-5 bedroom, 4-5 bathroom homes, in Andalucia (pictured above), Marrakech, Southwest Turkey, the Algarve (Portugal), Provence, and the Antigua in the Caribbean. The life of the fund is expected to be seven years, after the completion of the purchase of the six homes and the final closing.

Subscribers for the next 9 full units will receive a discount of GBP 8,000. In addition, units or half-units can be reserved at a discounted price by paying a fully-refundable deposit, which is held in Lloyd's Bank while the due diligence is completed. Only high-net-worth individuals and entities, sophisticated investors, or investment professionals are able to purchase shares. In addition to the share price, shareholders are also responsible for making an annual management and maintenance contribution, which covers the running costs for the homes.

Villa Staff

Properties are staffed by a housekeeper/cook, who cooks lunch or dinner six days per week, a part-time gardener (who also maintains the pool), and maids. These staff members, as well as the utilities, are paid for by the fund while the shareholders personally pay for their own food and drink.

The Crystal Fund is Rocksure's fourth fund, following the sold out and closed Alpha and Bravo funds and the Capital Fund, which is currently buying apartments in Europe. Each of these funds is basically an equity destination club. Investors in the fund also receive full travel services to help them plan and organize their vacations.