ex-lo manager to take over carmignac commodities

Michael Hulme is to take over as manager on the 670 Carmignac Commodities fund.

ex-lo manager to take over carmignac commodities
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Hulme will join in February, taking over from David Field who is taking a short sabbatical before taking up a new role at the group at a later date. 
 
Hulme had previously managed the Lombard Odier Global Energy fund since its launch in 2010. Over three years, the fund is up 8%, compared to a fall of 21.9% for the average fund in the offshore commodity and energy sector. Over one year, it is up 12.5%, against a fall of 6.5% for its peer group. 
 
In contrast, the Carmignac Commodities fund has had a weak run of performance, though it remains significantly ahead of its sector over the longer-term. Over three years, the fund is down 32%, against a fall of 22.8% in the wider sector. Over five years, however, it is up 59.9% against a sector average of 29.3%. Field has run the fund since 2003. 
 
Prior to joining Lombard Odier, Hulme worked at MFS International, launching its Global Energy Fund in 2009. He also managed the energy component of the MFS European Equity fund and the MFS Research International fund. He started his career at Societe Generale Asset Management and holds a degree in history from Cambridge University. 
 

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