View more on these topics

Platinum brings in new managers to meet demand

Platinum Capital Management is adding four hedge fund managers to its Platinum premier fund but says it is not marketing the product as a multi-manager fund.

The managers are being added to the fixed-income hedge fund to boost capacity, enabling Platinum to reopen it to new investments on June 1.

At the fund’s launch last year, the only management group on board was City Fund Management.

Although the new managers will broadly run money in the same way, using fixed-income arbitrage strategies, they will use slightly different techniques. Endeavour Capital will focus on fixed-income relative value trading, Rimrock Capital Management will exploit inefficiencies in the market using currency hedging, Old Hill Partners will invest in fixed-income products tailored to institutional buyers and Drawbridge RV will invest mainly in G7 government bonds, swaps and futures.

However, Platinum insists the appointment of the new managers does not make the fund a multi-manager product.

Managing director Craig Reeves says: “We added the managers to Platinum premier because City Fund Managers could not manage any more money but we still had a big demand from investors.

“The fund is not a fund of funds or even a multi-manager fund because it is still a single-strategy fund. Historically, it just had City Fund Management but underneath it had five traders. The new managers are running different flavours of the same thing.”


Inflation figures to hit seven year high, says MPC

Inflation figures are set to hit a seven-year high this week, boosted by higher petrol prices and Budget tax rises. The first time since May 1998, when it hit 1.9 per cent, the Consumer Prices Index could breach the 2 per cent target set for the Bank of England MPC. The Bank has forecast a […]

Tenet networks take over at top of league

Tenet networks have taken over from Berkeley as the most popular network with members, according to research by Henry Samuels Marketing Services.

Protection sales slide at Swiss Re

Swiss Re reveals plummeting protection sales in 2004. New term assurance policies saw a 17.3 per cent fall in sales, with sales of CI and individual IP sales also down 30.9 per cent and 25 per cent respectively. Mortgage sales outperformed non-mortgage sales, but these also declined, with TA down 13.5 per cent compared to […]

M&G appoints new marketing services director

M&G has appointed Jacqui Haskins as its new marketing services director with effect from May 31.Haskins, formerly head of marketing at Gartmore replaces John Goddard as marketing director, who will leave the firm in July.In her new role, Haskins will sit on the UK retail board and be responsible for brand, direct business and marketing […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment