Canadian diamond miner and retailer, Harry Winston Diamond, has signed an agreement with Zurich-based diamond advisory firm, Diamond Asset Advisors (DAA), to source polished diamonds without extra investments. DAA will launch a polished diamond investment fund to buy the polished diamonds sourced by Harry Winston.

The fund is expected to raise about $250 million, of which $100 million is expected to be raised in 2011 and the remaining $150 million in 2012. The fund will offer institutional investors direct exposure to the wholesale market price of polished diamonds and be managed by DDA.

Click here for the release from PR Newswire.