Monday, 24 October 2016
Last updated 25 min ago
Feb 24 2010 | 2:21am ET
London-based Commoditrade is opening its hedge fund unit to outside investors next month.
The investment firm has renamed the unit, which it bought last February, for the occasion. Rather than investing in AMCO Commodities, investors will give their money to Mentum, Bloomberg News reports. And instead of the hedge fund structure that the firm has employed since its debut four years ago, Mentum will offer separately-managed accounts exclusively.
Mentum, which had $100 million in assets when Commoditrade bought it last year, has been seeded with $20 million by its parent.
The rebranded entity features five portfolio managers. Three will trade the six primary metals on the London Metals exchange. The other two will trade energy derivatives on ICE Futures Europe and the New York Mercantile Exchange.
AMCO’s hedge fund returned 21% between May 2006 and February 2009.