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Metals Special – Windermere’s new metals fund up 0.95% in first quarter, Midas Fund gained 83% on gold in 2009, (-7.6% YTD 2010), Base metals: LME metals mixed, copper dips weighed by dollar, Precious metals: Gold rises a bit on Euro zone Greece support

Friday, February 12, 2010

Opalesque Exclusive: Windermere’s new metals fund up 0.95% in first quarter Benedicte Gravrand, Opalesque London:

The global financial crisis and economic recession, coupled with a significant decline in commodity prices in 2008, has left many distressed or bankrupt base and precious metals producers holdings high quality assets. According to Windermere Capital, global demand for hard assets will eventually resume and will likely surpass the levels seen in the past few years. Investors who are able to acquire quality assets cheaply and apply the necessary operational, technical and financial expertise, stand to make above average returns in this sector.

Windermere Capital, a boutique investment manager based in Montreal, Canada, recently launched what it calls a vertically integrated mining investment fund. The Breakaway Strategic Resource Fund, which is Windermere’s first metals fund, and which went ‘live’ in November-09, seeks opportunities ranging from publicly traded securities to outright property acquisitions. Windermere’s other fund is called the US Capital Growth Fund.

For this launch, the firm assembled a team with the expertise and experience required of this asset class, by partnering with Ocean Partners, a global trader of ores and concentrates, and the Hawley Etal Group, a geotechnical mining group – hence the “vertically integrated” attribute. Vertical integration describes a style of management control; it takes place w......................

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