Mon, Sep 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge for CTA holdings offered by Armajaro’s Natural Resources Fund

Friday, January 28, 2011

By Beverly Chandler, Opalesque London:

A sixth fund has been launched by London headquartered, Armajaro Asset Management. The Armajaro Natural Resources Fund will be managed by Nick Glinsman who has joined the firm having run his own natural resources trading strategy, as an external portfolio manager for Brevan Howard. He is joined at the fund by James Whitehead, also from Brevan Howard, who will be the dedicated risk manager.

The fund will launch on 1 February, 2011 with US$ 60-70 m under management and take a diversified approach across a wide range of natural resources from metals to energy to agriculture, investing in north and south America and Australia. The strategy will focus on macro trends, taking positions in commodity-related equities rather than in commodity derivatives so that it can achieve leverage and liquidity.

In an exclusive interview with Opalesque, Glinsman said: “I look for indicators in the commodities markets, particularly in the ratios between gold and silver, or gold and copper or natural gas and crude oil.”

Glinsman will go long/short on the ratios with no bottom up investment element in the portfolio. “It’s equity-linked because I want the extra beta” he said. He will invest in mining companies against refiners; food producers against food manufacturers or gold versus miners. “We are very disciplined” he said. “We look at our ratios versus the underlying commodities.” The result is a performance stream that is unncorrelated to t......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali