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Philip Turner, partner at Krom River Investment Management (Cayman) Limited, informed investors in an email communication yesterday that one of Krom River’s funds was to be re-opened. Krom River is a commodity funds house that moved its offices from London to Zug, Switzerland, in 2008.

The Krom River Commodity Fund was up 36.61% to November 2008. In July last year the managers decided to soft-close the fund. The reason for this was to attempt a soft landing at the capacity limit of $1bln.

Having grown at a rate of 25% a month since inception, plus the existing capacity agreements Krom River had in place, the managers thought it was prudent to soft close at around $700m and let the existing investors build their investment to Krom’s capacity.

As investors have had to navigate through some very difficult terrain over the last 6 months and for many good reasons have had to stop and in some cases reduce their inflows to the fund despite posting 36% returns with a max peak trough of 3.2% for the year. Krom River has had just over 12% redeemed from the fund since its peak of $820m in August.

Krom River has seen quite a marked increase in investor interest this month and has decided to re-open the fund to investors under the same terms.

See our past Opalesque Exclusive Krom River: London manager on low wh......................

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