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New Managers November 2012

Profiles - Two emerging managers, AN Capital and Oracle Capital, speak about their new funds

AN Commodity Fund aims for a positive 2012 after +14% gains in September

Tan Tien Leong

Singapore-based alternative investment management firm AN Capital Pte Ltd runs the AN Commodity Fund, which finished September up +14.12% (-2.33% YTD). The fund’s manager of this Asia-focused commodity hedge fund believes that the market selloff in the commodity space early this year is approaching its end.

AN Capital’s portfolio manager Tan Tien Leong is quietly confident he could turn around the firm and finish 2012 on a positive note. "The first five months of 2012 were tough for us as market conditions were challenging," he told Opalesque in an interview. "Thankfully, we believe that is behind us. We expect to finish 2012 with strong profits." The fund was incepted in January 2010 and returned 5.3% that year and -8.7% in 2011.

The AN Commodity Fund, a Cayman-domiciled fund which currently manages $3m, is featured in Opalesque Solutions' Emerging Managers Database .

At its peak in late 2010, the fund’s assets reached $41m but the Eurozone crisis heightened investors’ risk aversion and this resulted in substantial redemptions over 2011 and early 2012.

According to Tan, since the start of June 2012, AN Commodity Fund returned approximately +40.75% net and the firm’s "well timed option strategies paid off."

As a commodity fund, it deals mostly with commodity futures and options on global exchanges such as West Texas intermediate oil, Brent oil, New York gold, Chicago corn, Chicago wheat and Malaysia palm oil......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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