Tuesday, 26 July 2016
Last updated 16 min ago
Jan 24 2008 | 12:31pm ET
U.K.-based Ermitage Group said its specialist Resources Fund, a commodities-focused fund of hedge funds, has surpassed $100 million in assets under management.
The Resources Fund, which now manages some $110 million, employs niche strategies and early stage managers diversifying across global markets, sectors, styles and themes. It began trading in June 2005 and returned 9.48% last year.
"We believe ongoing positive demand/supply fundamentals will create future opportunities for commodity investments to deliver absolute returns and diversification benefits to investors,” said Jonathan Wauton, chief investment officer. “Since launch, the fund has produced better absolute performance than passive commodity indices, and done so with lower volatility.”
The Resources Fund charges a 1.5% management fee and a 10% performance with a US$100,000 minimum investment requirement.
The Ermitage Group managed some US$2.8 billion in total assets as of the end of November 2007.