Tano Capital, the family office of the founders of Franklin Templeton Inves
Tano Capital, the family office of the founders of Franklin Templeton Investments, has decided to change the jurisdiction of its hedge fund from Delaware to Singapore in response to a strengthening Singapore dollar reported Bloomberg this week. Managing Director of the San Mateo-headquartered firm, Charles E Johnson, said that the Tano Global Hard Assets Fund would be denominated in Singapore dollars as of next month. The fund uses a long/short strategy to trade commodities. Having climbed 11 per cent in the last year to fight inflation, Johnson believes the Singapore dollar will “remain one of the stronger ones globally”. He therefore wants to give his global investors the opportunity to benefit from the sensible way the currency is managed. “The Singapore government manages the Singapore finances very commendably,” Johnson was quoted as saying. Monetary Authority of Singapore this month said it would allow further currency appreciation in a third tightening of monetary policy in a year. Tano Capital opened the Singapore office last week and will initially have a team of three. “Asia is where the action is, where all the high growth is going to happen over the next 20 years,” Johnson said. The USD80million Tano Global Hard Assets Fund invests in commodity companies operating in the oil, mining and agricultural sectors and also trades commodity futures.
