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From the Opalesque team: The Navigator Absolute Return Fund, an open-ended fund that provides investors exposure to the returns of soft commodity trade finance (financing exports of soft commodities from the South American region), maintained its "clean" 41-month winning streak since its inception in March 2008, after gaining +0.81% in July (+5.22% YTD).

It has returned 39.19% since inception, annualising 10.16% in returns and 0.48% in Standard Deviation.

Commodity Trade Finance here is the financing of the production and export cycle of a range of agricultural commodities such as soy and sunflower oils and meals, dairy products, meat and others.

It is co-managed by Lumix Capital, a fund management and structured finance advisory firm with a focus on Emerging Markets with offices in BVI and in Switzerland, and Grupo BAF a financial services provider located in Buenos Aires with $500m in assets under management (AuM) (and with $4bn in 1,500 loans completed since 2002). The investment manager is called Nexum Capital Management Ltd.

As of end July 2011, Navigator Fund had $40.47m in AuM.

South America is a significant contributor to the world economy through its exports of raw and processed agricultural commodities. In the absence of a well-functioning financial market, Grupo BAF as a niche specialist can add value to the agribusi......................

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