NIR Group, an alternative investment firm specialising in low correlation strategies, has announced that Cortan Commodity Partners is now open to outside investment.
NIR Group, an alternative investment firm specialising in low correlation strategies, has announced that Cortan Commodity Partners is now open to outside investment.
The fund, which launched for friends and family investors on 1 November 2007, is designed to invest in inter- and intra-commodity spreads and commodity futures.
In its first year of active investing, Cortan delivered a return of 26.99 per cent net to investors.
Corey Ribotsky, founder and managing member of the NIR Group, says: ‘We see a commodities market ripe for smart, strategic investment. With the so-called commodities bubble deflating, there are significant dislocations in price and valuations that we believe we can capitalize on for our investors’ benefit. Our market-neutral approach mitigates some of the directional risk that has really hurt so many investors unprepared for the velocity of the market volatility we are experiencing in the current environment.’
Cortan is headed by Howard Tanney, a 24-year veteran of the commodities markets.
Tanney is a member of the New York Mercantile Exchange and prior to joining NIR Group was a member of the Nymex board of directors and executive board of directors.
‘Persistent pressures created by climate change, geopolitical unrest and the expansion of developing economies have exacerbated volatility and expanded demand for oil and metals,’ Tanney says. ‘Although with the recent global economic slowdown, demand for commodities has slowed, we believe this can quickly change. We will continue to take a smart and strategic approach to our investments that take macroeconomic as well as individual market forces into account, helping us deliver value to our investors.’
