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Altana Sovereign Diversity fund is open to investors.

Altana Wealth, a new investment management group, is opening its Altana Sovereign Diversity Fund ("the Fund") to external investors.

Altana Wealth was founded by Chief Investment Officer Lee Robinson, one of the co-founders of Trafalgar Asset Managers Ltd. The fund seeks to provide diversification benefits to a sovereign portfolio by offering an inflation hedge via avoidance of weak currencies. It gives exposure to harder to access, currently higher yielding sovereigns and is tightly risk-managed with regard to currency, duration, counterparty, and sovereign risk.

The Fund has been seeded with $25 million of Robinson's own money, aligning directly management's interests with those of investors. The Altana team has a strong industry track-record at top tier investment firms and all key management have equity participation in the new Company.

"The goal within our Sovereign Diversity Fund is to profit from the appreciation of currencies of stronger sovereign credits and to protect investors' wealth from the stealth defaults of debtor nations. We believe this is a great opportunity for anyone who earns income from or holds wealth in any of the main reserve currencies," Robinson said.

"We achieve this by investing in a diversified portfolio of short-dated sovereign credit instruments, whose currencies are expected to strengthen against the US$ and other traditional reserve currencies ([pounds sterling], E, [yen]). Favoured currencies will reflect relative strength in public finances, the domestic financial system and the balance of payments.

"Most importantly we will be avoiding nations at risk of default or restructuring and enhancing returns by taking advantage of short-term currency trends to actively trade around the long-term positions of the portfolio and investing in other instruments such as gold.

"To take advantage of opportunities in global markets it is essential to maintain your real purchasing power. Assets for sale in Europe are arguably still expensive in $ terms though perhaps cheap in E terms but a bargain for a Swiss investor. ASDF is the building block of this process."

Other members of the Altana team include portfolio manager Ian Gunner, who has also held senior research and FX strategy roles at Chase Manhattan, SBC Warburg, ABN Amro and Mellon Financial Corp. Chief Operating Officer Antony Lingard was previously a Managing Director in UBS' Prime Brokerage department and Chief Technology Officer Neil Panchen has worked as Global Head of Commodities IT and Global Head of FX IT through 2008 at Deutsche Bank, and has implemented the IT infrastructure for the FX Exotics, FX Forwards and Precious Metals businesses.

2011 CPI Financial. All rights reserved.

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Publication:CPI Financial
Date:Nov 1, 2011
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