Investment Strategy

RNS Number : 1982X

Hampden Underwriting Plc

06 February 2013

 



6 February 2013

Hampden Underwriting plc

("Hampden Underwriting" or the "Company")

Investment strategy

Hampden Underwriting plc, which provides investors with a limited liability direct investment into the Lloyd's insurance market, announces that, following the acquisition of a number of corporate members of Lloyd's with multiple approaches to the investment of both funds at Lloyd's ("FAL") and corporate funds, the Board has carried out a review of the Hampden Underwriting group's ("the Group") investment strategy.  Following this review and after having conducted a beauty parade with a number of managers, the Board has decided to consolidate the investment of the Group's FAL and surplus corporate funds; going forward roughly 50% will be invested in the CF Ruffer Total Return Fund and the CF Ruffer Absolute Return Fund (both managed by Ruffer LLP) and 50% in the Trojan Fund (managed by Troy Asset Management Limited).  The Group's total FAL currently stands at approximately £7.2 million and its total corporate funds are approximately £0.6 million.

The Company's FAL and corporate funds had originally been held principally in cash and gilts and the move described above will significantly increase the equity element of the Group's investment portfolio.  The Board will continue to assess the Company's investment strategy in light of prevailing market conditions.

For further information please contact:
Hampden Underwriting	Nigel Hanbury	[e-mail]
Smith & Williamson Corporate Finance	David Jones	020 7131 4000

Further information about Ruffer LLP is available on www.ruffer.co.uk and about Troy Asset Management Limited is available on www.taml.co.uk.

 

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