International distribution of the Curzon Traded Metals Fund, as it is called, is being handled by ATSG Funds, an investment products promoter.
The fund is being managed by Milan-based Wings Partners, which is described by Curzon as having been founded in 2001 “by a group of non-ferrous metals traders, all with previous experience working within BNP Paribas Group”.
It is due to begin trading next month, with a targeted return of 15% to 20% per annum. (See IA Fund Fact Box, below.)
The fund will invest in such metals as aluminium, nickel, copper, lead, zinc and tin, “in order to achieve consistent capital growth”, and will exercise an “opportunistic” medium-term strategy, “designed to maximise profit in rising markets”, Curzon says, in a fund factsheet.
This, it adds, is expected to be achieved by acquiring metal futures “at between 85% and 100% of the normal price”.
“The value of metals futures generally rises when industrial activity improves, although further trades can take place in order to capitalise on any supply and demand imbalances,” the factsheet notes.
However, it adds, “The fund will operate on a much more conservative basis than typical futures trading, and will utilise only [a] 25% to 35% margin, depending on the volatility of the individual metal”.
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IA Fund fact box
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name
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Curzon Traded Metals Fund
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currency
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GBP
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structure
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Bermuda OEIC
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Minimum investment
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£10,000
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Type of fund
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Open
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Size
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£1m
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Initial charge
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0% – 4%
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AMC
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1.5 %pa
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Launch date
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Trading from October
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Redemptions
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monthly
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Target return
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15% – 20%
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Manager
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Wings Partners, Milan
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