Top-performing commodities fund moves domicile to target UK investors

The Kijani Commodity fund has moved its domicile to target UK and European investors after a year in which it returned more than 20%.

The $130m fund, launched four years ago, has switched its domicile from Mauritius to the Cayman Islands. The fund was subject to 3% tax in Mauritius but will be free from this burden following the move. It will also benefit from the Cayman Islands' agreements with European regulators, allowing it to be marketed under the Alternative Investment Fund Managers Directive (AIFMD). The strategy differs from most resources funds, focusing on the physical trading of a wide range of commodities by brokering deals between producers and buyers in emerging markets. The portfolio returned 21.4%...