Hampden Underwriting Plc Investment Strategy (1982X)
February 06 2013 - 2:00AM
UK Regulatory
TIDMHUW
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 GBP7.2 million
and its total corporate funds are approximately GBP0.6 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 nigel.hanbury@hampdenplc.com
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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