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New diversified growth player Latitude launches first fund

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Latitude Investment Management (Latitude), an investment management firm recently founded by Freddie Lait (pictured), has launched it first fund, The Latitude Horizon Fund, which will spin out of Odey Asset Management in early November.

The Latitude Horizon Fund (UCITS V) is a global long only Diversified Growth Fund targeting absolute returns, with lower volatility and lower fees.
The Latitude Horizon Fund will invest in a concentrated portfolio of stocks which have high-quality business characteristics and strong, or improving, industry dynamics. Alongside this, non-equity investments will be made to generate uncorrelated returns, reducing risk without compromising performance. The relative allocation of asset classes will be determined by analysing cyclical factors with a long term, capital preservation objective.
Prior to founding Latitude, Lait worked at Odey Asset Management for six years, having previously worked at NM Rothschild and Goldman Sachs. Mark Carter has joined as Chief Operating Officer from Vinci Zafferano, where he was Head of Operations and Risk Management. Emma Barrat, who has joined from Oppenheimer where she built out a third party fund distribution business, will be responsible for sales and marketing.
Latitude aims to offer investors a clear, transparent, and fair charging structure. The Horizon Fund will charge low management fees of 1 per cent and no performance fee, believing that strong performance should always be an objective, alongside risk control and preservation of capital.
Lait says: “I am very pleased with the outstanding support I have received from investors in the fund and new investors in the management company. Latitude is well capitalised and ideally placed to provide a best in class Diversified Growth Fund to institutions and private wealth managers in the UK and Europe. Latitude’s investment strategy follows an absolute return framework – the fastest growing sector in the active management industry –  with the belief that diversified portfolio construction, combined with strong risk control, generates more desirable risk adjusted returns than employing leverage or shorting strategies.
“We believe there is a significant opportunity to provide investors with an experience that combines strong performance with low volatility, low management fees and transparent reporting and charging structures. The current environment of increased volatility and uncertainty is driving more institutional investors towards absolute return strategies, and we look forward to working with those investors in the near future and in the years to come.”

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