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Millennium Launches “Millennium Global Natural Resources Fund”
(PRWEB) April 10, 2006
Millennium Asset Management Ltd announces the launch of a new fund: the Millennium Global Natural Resources Fund is designed to exploit investment opportunities triggered by the changing patterns of demand and supply for natural resources, in the coming years. The fund will be co managed by Jim Guiang and Joseph Strubel.
Global demand for natural resources is expected to continue to surge, notably due to growth in developing economies. However, natural resources are limited in supply and therefore subject to depletion unless the dependency on these resources is curbed substantially. In particular the reserve base for both oil and gas is expected to decline as discovery and production of oil fields around the world is gradually tapering. These changing patterns in supply and demand are expected to have significant implications over the next five to ten years and which will provide investors with attractive opportunities.
The fund will invest its assets principally in the energy sector mainly through investments in oil and gas exploration, production and service companies, energy funds and royal trusts listed on established exchanges. The majority of the fundâs assets will be invested on North American, European, and Australasian exchanges. The fund will be value driven with event catalysts with the objective to achieve capital appreciation of 20-30% per annum with a target volatility of 10-15%.
The fund will be run alongside the highly successful Millennium Global High Yield Fund which is managed by Joseph Strubel. This fund has won the Eurohedge award for âBest Performing Managerâ in the high yield and distressed category, for the last two years in a row.
Millennium Global Natural Resources fund will capitalize on James Guiangâs scientific skills and in depth experience of the energy sector as well as on the investment skills and successes of Joseph Strubel.
Jim Guiang, Portfolio Manager, Natural Resources specialist. Jim trained in the USA as a petroleum geophysicist and geologist and began his career in the energy industry in 1979 as a geophysicist with Exxon, and subsequently Amerada Hess and Conoco International. At Conoco (London) he was credited with numerous drilling successes that were valued at $ 920 million and used risk capital of $ 65 million. Since 1988 he has advised and co-managed oil and gas investments in emerging energy companies, working closely with Lion Resource Management, a specialist resource investment management company where he has been registered with the FSA since 1999. Mr. Guiang graduated from Boston College with a Bachelor of Science degree in Geology and Geophysics, and from Boston Universityâs Metropolitan College programme with a Master of Science degree in Business Administration. He did his post graduate work at the London Business Schoolâs CFE programme and was a visiting student in Geology at the Colorado School of Mines.
Joseph Strubel is a Senior Portfolio Manager at Millennium Global Investments Ltd where he is responsible for debt and high yield strategies managing in excess of $ 450,000,000. He has more than 15 years experience in portfolio management, trading and research of high yield, distressed and special situation investments on a global basis. From 1997-99 he was Head of Fixed Income Investments for Renaissance Capital Asset Management where he managed portfolios of corporate debt instruments in Emerging Europe. From 1996-97 he was a Director, Credit Fixed Income trading with SBC Warburg Inc. Additionally, he worked from 1991-95 in distressed debt portfolio management with the HSBC Group, and began his postgraduate career from 1987-90 as a Senior Economist with Merrill Lynch & Co. Mr. Strubel graduated from the University of Rochester with a Masters of Business Administration degree in Finance and Applied Economics and a Bachelor of Arts degree in Economics and is registered with the Financial Services Authority and CFTC.
Michael Huttman Millenniumâs Chief Investment Officer and managing Director has overall responsibility for investment strategy and risk management of Millennium’s $ 6.4 billion investment activities. Prior to this he was executive director and chief portfolio manager with overall responsibility for currency products and strategies in Goldman Sachs’ asset management division. He also headed the International Asset Allocation Committee. Michael was hired by Goldman to help start up the international asset management office in London. When he left (August 1994), he had discretion to manage over US$ 3 billion.
Before he joined Goldman Sachs, late in 1990, he spent over seven years with J.P. Morgan in New York, London and Zurich, where he managed global fixed income portfolios and specialized in currency overlay programmes and active currency management. From 1980 to 2001, Michael was involved with the activities of the World Economic Forum in Switzerland.
Michael graduated from the University of Geneva with an MA in Economics (Sc. Com.) and gained a certificate from the London Business School in Investment Management.
He has been registered with the Financial Services Authority (FSA) and CFTC for numerous years.
Millenniumâs corporate background
Millennium is a privately owned investment management company established in 1994. Mandates total $ 6.4 billion from a global institutional client base comprising pension funds, corporate clients and other institutional investors. Millennium provides currency management products, a fund of hedge funds product as well as a high yield and a special situations product. Millennium has a total of twenty five experienced professionals in three locations. The London office focuses on trading and risk management. The Guernsey office is dedicated to operations, settlement and investor relations. Miami provides research support.
Contact for further information:
Millennium Asset Management Ltd:
Mrs Debbie Sebire:
DSebire @ fundmanagement.net
+44 (0)1481 739930
Millennium Global Investments Ltd:
Mrs Indira Jayasuriya
IJayasuriya @ millenniumglobal.com
+44 (0)20 7663 8911
Disclaimer
This document is not to be used or considered as an offer to sell or solicitation or an offer to buy any securities. Prospective investors should refer to the fund prospectus for full details of the fund and related risks. Past performance should not be construed as a guide to future performance and investments can go down as well as up.
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