London, 26 January 2011

Armajaro Asset Management today announced the further expansion of its successful hedge fund range with the launch of its sixth fund: the Armajaro Natural Resources Fund (the “Fund”).

Nick Glinsman has joined Armajaro Asset Management to manage the Fund. Prior to joining Armajaro, Glinsman successfully ran his natural resources trading strategy for over five years, including a period as an external portfolio manager for Brevan Howard. Previously, Glinsman headed futures and options at Salomon Brothers. He is joined by James Whitehead from Brevan Howard as dedicated risk manager on the Fund.

The Fund will launch on 1 February 2011 and will take a diversified approach across natural resources spanning metals, energy and agriculture. The strategy will focus on macro trends through positions in commodity-related equities rather than through the commodity futures market in order to express its views and themes in a more leveraged and very liquid way.

Armajaro Asset Management currently manages four commodity hedge funds and an emerging markets hedge fund with combined assets under management in excess of US$1.8 billion. The Armajaro Natural Resources Fund is Armajaro Asset Management’s sixth hedge fund, further developing the firm’s strategy of building out its core commodities expertise into related areas within emerging markets, macro and equities.

Commenting on the launch of the Armajaro Natural Resources Fund, Harry Morley, Chief Executive Officer, Armajaro Asset Management, said:

“Nick and James are highly skilled investment professionals and we are extremely pleased they have joined Armajaro. The Natural Resources Fund will offer investors a unique investment opportunity and an innovative way to access prevalent global themes such as growing inflationary pressures, high volatility in commodity and food prices and the growth in commodity-producing emerging markets. The Fund is a natural extension to our existing range, providing investors with a differentiated but complementary strategy that combines Armajaro’s expertise in commodities with the highly disciplined approach to risk management that they expect.”

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