Prim Commodities, a Ucits III fund, is invested directly in the assets, using total return swaps on a customised commodities futures index.
The fund is domiciled in France, but open to UK investors, and is managed by Benjamin Louvet, one of the founding partners of Prim’ Finance.
Prior to founding the company in 2002, Louvet was director of trading for CTA activities at BNP Paribas.
Prim’ said the aim of the fund is to profit from the market potential of energy and metals, while using an actively managed strategy to switch between defensive assets (precious metals) and growth assets (oil and base metals).
Its investment universe covers oil products, natural gas, aluminium, copper, lead and zinc, as well as gold, silver and palladium.
The fund has daily liquidity and a 2% annual management fee.
It is split between three reference indices; the S&P GSCI Energy TR, the S&P GSCI Industrial Metals TR and the S&P GSCI Precious Metals TR.
