View more on these topics

Metal gurus to offer hedge fund

Master Adviser principal Doug Brodie and his brother Chris are set to launch a long/ short commodities hedge fund.

The brothers have tied up with hedge fund specialist Krom River to launch the fund in June. Chris Brodie will act as trader and chief investment officer for the Krom River Capital Partners commodities hedge fund. Doug Brodie will be chief operating officer in charge of marketing and distribution.

The fund will invest across a range of commodities globally and use futures to exploit current volatility in the market. It will not be index-constrained and is likely to launch with a big metals’ bias.

Minimum investment is $100,000. There is a 2 per cent annual management charge and 20 per cent performance fee. The fund has a capacity of $500m but will soft-close to new investors at $40m.

The Brodies say they have received strong interest from major fund of hedge fund managers but the fund will mainly target institutional and high-net-worth private clients.

Chris Brodie says: “There is a lot of money ready to be invested in the commodities arena and very few commodity funds open. They are also being seen as an increasingly attractive asset class for pension funds, allowing for proper balance within a portfolio.”

Recommended

Easter aiming to mend firm’s ‘broken model’

New Millfield chief executive Alan Easter says his priorities are to create financial stability for the company and clar-ify its role in the market. Easter, who took over last week, is in discussions with the company’s backers about restructuring its debt and raising money to address its 1.5m capital adequacy shortfall. Millfield brought in turnround […]

A tight turn

Millfield’s disclosure that its talks with a buyer have fallen through and that it has now brought in turn-round consultants poses the questions of why did the deal fail and can the consultants revive the business?

Positive Solutions brings in Gardner to lead distribution

Former AWD Group chief executive Douglas Gardner has joined Positive Solutions as distribution director. Aegon head of risk Graham Dumble has also joined the board as a non-executive director in a management reshuffle that sees sales director Chris Smallwood and compliance director Chris Davies leave the group. Positive Solutions revealed last week that David Harrison […]

FundsNetwork goes on the road

FundsNetwork’s latest series of user forums will take place in June featuring Fidelity, Henderson and Jupiter. The 18-venue roadshow will include presentations on asset allocation, property investment and income generation in a low-yield environment.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment