Armajaro Asset Management soft closed the Armajaro Commodities Fund Limited on 10 March after attracting assets worth in excess of USD 100 million.

Existing investors in the pure commodities fund, which is discretionally managed by John Tilney and has returned over 14 per cent since inception in April 2004, will still be able to top-up their investment to pre-agreed capacity limits. The fund was first opened to external investors in October 2004.

Neil Heywood, Sales and Marketing Director for Armajaro Asset Management LLP, said: "We are delighted to announce the soft close of the Armajaro Commodities Fund Limited six months after opening the offer to external investors. The manager believes there will be additional capacity available in the future, and as such, intends to re-open the fund to investors at a later date."

Armajaro Asset Management LLP also manages a pan-European equity market neutral fund, the Coolum Fund, which has returned over 3 per cent year to date (as at 9 March 2005) and offers investors daily liquidity.

Background Notes: Armajaro Asset Management LLP is a partnership formed to manage alternative Investments. Armajaro Asset Management LLP currently manages two Hedge Funds - the Armajaro Commodities Fund and the Coolum Fund.