New York (HedgeCo.net) – UCITS umbrella providers to the global hedge fund industry, Merchant Capital launched their third fund, the Merchant Global Resources UCITS Fund.
“We are delighted to be launching the Merchant Global Resources Fund.” George Cadbury, co-founder of Merchant’s UCITS umbrella, said, “This strategy is a perfect fit for a UCITS fund and will be attractive to investors because of the manager’s track record and the transparent nature of the fund structure. Commodity Intelligence’s level of experience and success is indicative of the type of markets we are targeting.”
The fund will employ an absolute return equity strategy with a long-biased approach to investing in global resources. The Merchant Global Resources UCITS III Fund has targeted a launch date in October with approximately $15m in assets under management. Initial capital has been raised from a combination of European institutional and private investors.
Tal Lomnitzer will manage the fund, advised by Mark Latham at Commodity Intelligence. Together they have a combined 33 years of resources-focused investing. Lomnitzer has twelve years’ buy-side experience in global resources, including a successful three years at the ORN Capital Global Resources Fund, returning 46.6% over that period. He has also managed funds for Deutsche Asset Management and most recently for NewSmith.
Latham, who founded Commodity Intelligence in 2008, for four years managed a global long/short strategy for Odey Asset Management. Most notably he managed the Baring Natural Resource Fund for five years between 1995 and 2000, returning 20.4%.
The strategy combines a top-down thematic approach with in-depth bottom-up valuation work in order to choose the 100-150 stocks the fund will be invested in at any one time. Investments are sector-focused, concentrating on global energy, mining, precious metals and agriculture, principally through equities but also derivative instruments and debt.
The Merchant Global Resources UCITS III Fund is targeting European-based investors from a wide base; including IFAs, retail distribution channels, family offices, pension funds, funds of hedge funds, private clients and high net worth individuals.
Editing by Alex Akesson
For HedgeCo.net
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