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Alternative Market Briefing

South African manager MitonOptimal set to launch USD commodity CTA next month

Monday, January 20, 2014

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Andy Pfaff
Benedicte Gravrand, Opalesque Geneva for New Managers:

Andy Pfaff, commodities fund manager at MitonOptimal, is very busy these days. He runs a small South African commodities hedge fund while setting up three new funds: a South Africa commodity index tracker fund, a South Africa active long-only fund, and a US$ commodities hedge fund.

The index tracker and the active long-only funds have commitments from institutional investors and will go live sometime this quarter.

As for the USD commodities hedge fund, it may be open to new investments as soon as next month. It will be seeded by an in-house investment of $2.5m and has a third party commitment for another $2.5m after a few running months.

It will be called the MitonOptimal Core Commodities Hedge Fund and be domiciled in Malta, with the firm’s Guernsey offices acting as investment advisor. The Malta branch of IDS Funds Services will administer the fund.

The fund is designed to provide directional exposure to commodities through bull and bear markets and conditional correlation to beta benchmarks. It will not deal with complex assets: all the instruments are listed and traded on recognized international exchanges (and will be 90% exchange traded futures and 10% ETF / ETNs).

Pfaff’s trading methodology, developed over decades from a d......................

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