Armajaro Gears Up To Launch Commodities Hedge Fund

Jul 19 2007 | 1:51pm ET

U.K.-based Armajaro Asset Management is slated to launch its second commodities hedge fund October and anticipates to hard close when it reaches US$500 million.

The new commodities fund, dubbed the CC+, will initially concentrate on cocoa and coffee, but may add further soft commodities over time, trading in both physical and futures markets, according to the firm.

The fund will be managed by Anthony Ward, a principal at Armajaro.

The firm currently manages the Armajaro Commodities Fund, which recently closed to new investments in March on some US$600 million. The Commodities Fund was launched in April 2004 and since then has returned over 45% since inception, according to Neill Brennan, Armajaro’s chief executive. Armajaro also manages the Coolum Fund, a pan-European equity market neutral fund.

Neil Heywood, Armajaro’s sales and marketing director, said:  “With Anthony Ward’s vast expertise in the coffee and cocoa market, this is a unique and exciting fund launch that has already received substantial interest.”

Other launches in the works for Armajaro includes a fund of hedge funds, according to its Web site.

Founding partners Ward, Neill Brennan and Richard Gower formed Armajaro in July 2002. The firm’s assets under management had grown to US $1billion across its two existing funds as of the end of June.

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