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Galena Asset Management has officially soft closed its flagship Galena Fund.

Existing and prospective clients are no longer able to allocate to the fund.

David Mimra (pictured), head of sales and marketing, says: "The soft-closing of our metals fund reflects our desire to continue to provide consistent risk-adjusted returns to our investors with a manageable pool of capital. Should the market conditions allow us to do so, we shall re-open the flagship fund in the future.”

Galena's other hedge fund programmes (Galena Special Situations Fund and Galena Energy Fund) and its absolute return offering (Azurite Fund) remain open for investment.

The asset management firm is currently working on a new commodity trade finance fund which will be launched in 2010.


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