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.”
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 […]
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?
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’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.
Jelf, an independent full-service UK-based brokerage that supports businesses and individuals, has announced its interim results.
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The Financial Ombudsman Service has appointed Money and Mental Health Policy Institute vice chair Richard Lloyd to lead an independent review into its complaints handling process. The former Which? executive director has been charged with producing a report into FOS’ practices after a Channel 4 documentary earlier this year suggested a number of failures at […]
Aberdeen Standard Investments has voted against multi-million pound payouts for senior executives at housebuilder Persimmon. Persimmon held its annual general meeting today. There was a huge outcry at the end last year when it emerged the chief executive, chief financial officer and managing director of Persimmon were in line for huge pay packets as a […]
Consideration of non-pensions related tax-advantaged investment is becoming more necessary This week I want to take a look at where things stand in relation to pensions and planning using tax-advantaged investments following the Spring Statement. With the increasing impact of the lifetime and annual allowances, consideration of non-pensions-related tax-advantaged investments is becoming ever more necessary […]