FAQs
What is the corporate history of the company?
The company is a subsidiary of the Trafigura Group and was
formed in 2003, to provide investment management services to funds
investing in commodity related assets and commenced investment
management activities in 2004.
What is the corporate background of the Trafigura Group?
The Trafigura group was founded in 1993 and has grown to be one
of the largest independent commodity trading groups in the world.
Trafigura's primary trading businesses are in oil and its
derivative products and metals, metal ores and concentrates.
What is the business strategy of the company?
The business strategy of the company is to provide first class
investment management services to investment funds that invest in
oil and metal commodity related assets utilising Trafigura group
market knowledge to provide added value.
Who regulates the company?
Galena Asset Management Limited is authorised and regulated by
the Financial Services Authority in London which is the regulatory
body for all financial services business in the UK.
Does the company operate independently from the trading
activities of the Trafigura Group?
Great emphasis is placed on ensuring that the investment
management activities are independent from the trading activities
of the rest of the group. The Trafigura group provides valuable
market intelligence from it's trading in the physical markets and
analysis of the markets but there is no exchange of detailed
positions or transactions with the group. Whilst the group provides
corporate support services there is physical separation of the
company from the rest of the group.
What is the investment philosophy of the company?
The investment philosophy of the company is largely
discretionary and decisions are based on market positions and
reaction to market events. This approach is aided by technical
analysis and use of models.
Who are the service providers for the company?
The company uses the Trafigura Group in London to provide
corporate support services and Ernst & Young are the company
auditors and tax advisers, MMS Regulatory Solutions are retained as
the compliance consultants to the company.
For the funds under management the service providers are
independent from the Trafigura group with separation of the
responsibilities between the Administrators, Custodians and
Principal Brokers.
What is the fee structure for the funds the company
manages?
The detailed fees structures are fully disclosed in the specific
fund details. The company believes in full and advance disclosure
of all fees charged, fees are based on regular investment
management fee based on the value of the fund and a performance fee
based on the investment performance of the funds managed.
Are any side letters in place?
Yes, the Galena Funds have agreed key man notifications with
certain investors in respect of certain events which may occur.