Castlestone Management

Castlestone Management
Privately Held
Industry Investment Management
Founded 1996
Headquarters Tortola, British Virgin Islands
Services Investment
Number of employees
 11-50
Website www.castlestonemanagement.com

Castlestone Management Inc., established in 1996 is an independently owned asset manager based in the British Virgin Islands. The firm’s distribution service provider has offices in Hong Kong, London, Chichester and New York. Commodities take up the bulk of the funds managed by the company, with a focus on real assets such as gold bullion and precious metals. In 2010 Castlestone launched a Next 11 Emerging Markets fund [1] and more recently, Equity High Yield & Premium Income Fund.[2] The firm places emphasis on the long term, investing in asset classes and funds likely to outperform over a 10 year period, with the goal of protecting investors against the devaluation of money over time.[3] According to Castlestone Management's investment philosophy, the company aims to provide funds that are liquid, transparent, do not use leverage and only hold liquid instruments.

History

Castlestone Management was founded in 1996 by former Co-Head of the International Equity Department, NatWest Markets USA and President of the Macquarie Bank USA (1997-2000) Angus Murray,[4] who serves as Castlestone Managements current Chief Executive Officer (CEO).

The company was incorporated to be the investment manager of a series of British Virgin Islands funds. Castlestone originated from a European Family Office and gradually developed to concentrate on providing funds and services to financial intermediaries and their clients, as well as institutions. Castlestone Management opened their doors first to outside investors before establishing its Aliquot Gold Bullion fund in 2003, concentrating on the growing interest in precious metals in the international investor community. Castlestone Management operates in the following jurisdictions: United Kingdom, Europe, North Asia, Southeast Asia, Latin America, Middle East, and South Africa.

Fund Range

Funds managed by Castlestone Management include the Equity High Yield & Premium Income Fund,[5] Aliquot Gold Bullion, Aliquot Precious Metals, Aliquot Commodity Fund and Aliquot Agriculture Fund. The firm also manages a long-only Next 11 Emerging Markets Fund.[6] International Personal Portfolio Bonds accepting business for Castlestone funds include Royal London 360, Friends Provident International and Hansard International and Europe.

Current Chief Executive Officer

Castlestone Management’s current Chief Executive Officer (CEO) is Angus Murray, Castlestone Management’s founder and owner.[7] Angus Murray was born in 1970 in Australia and became the co-head of the International equity department at NatWest Markets, USA in 1989.[8] Murray founded and concurrently became the CEO of Castlestone Management in 1996, and served as the President of Macquarie[9] Bank USA whilst serving as CEO of Castlestone, between 1997 and 2000. Angus Murray received his Bachelor of Financial Economics in 2001 from Birkbeck University of London, England.

Controversy

In July 2011 the FSA raided the offices of the company’s Castlestone Management (EU) Limited following a complaint. [10] In August the firm wound up its listed funds and on 30 September, the firm ceased trading and administrators were called in. [11] In 2012, Castlestone Management Incorporated became involved in a regulatory investigation in the British Virgin Islands (BVI) after the watchdog there launched a probe into its funds. The BVI’s Financial Services Commission (BVIFSC) brought in Grant Thornton to investigate the fees and expenses being charged by eight funds managed by Castlestone Management Inc and domiciled in the offshore financial centre. The regulatory investigation concluded in 2013 with no adverse findings.[12]

Industry Recognition

Castlestone Management has seen industry recognition for its work in the investment sector with awards presented both to the company itself and for its funds. Castlestone’s Porcupine Global Macro Plus fund[13] was twice a finalist in the “Best Performing Global Macro Fund” category at the Hedge Fund Awards, in 2007 and 2009.[14] The company was also “Highly Commended” at the 2009 International Fund and Product Awards and at the 2009 Hedge Funds European Performance Awards,[15] held in May of that year. In addition to this its Aliquot Gold Bullion Fund was selected as a constituent of the HFRX Index in both October 2009 and March 2011.

See also

References

  1. ↑ Johnson, Steve (2010-09-12). "Next 11 and Civets vie to be Next Bric Thing". FT.com. Retrieved 2014-05-11.
  2. ↑ Danaher, Simon. "Castlestone returns with equity and high yield proposition". International Adviser. Retrieved 29 May 2014.
  3. ↑ "Funds are going to continue to shift to emerging markets". World Finance. 2013-02-20. Retrieved 2014-05-11.
  4. ↑ Johnson, Steve (2011-05-22). "Angus Murray: believer in real assets". FT.com. Retrieved 2014-05-11.
  5. ↑ "Castlestone Management Launches Equity High Yield & Premium Income Fund". International Adviser. Retrieved 29 May 2014.
  6. ↑ Rob Langston. "Castlestone to launch Next 11 emerging markets fund". Whatinvestment.co.uk. Retrieved 2014-05-11.
  7. ↑ "Castlestone's Angus Murray to move to British Virgin Islands". FTAdviser.com. 2011-08-11. Retrieved 2014-05-11.
  8. ↑ "Angus Murray | Castlestone Management LLC". ZoomInfo.com. Retrieved 2014-05-11.
  9. ↑ "Former Castlestone sales head Devlin joins Macquarie". Investmentweek.co.uk. 2012-03-16. Retrieved 2014-05-11.
  10. ↑ "Castlestone raided by FSA". The Guardian. 21 July 2011.
  11. ↑ "Castlestone administrator prepares to sell off assets". Investment Week. 30 November 2011.
  12. ↑ "Castlestone Management Inc products in offshore probe". FT Adviser. 25 June 2012.
  13. ↑ "Porcupine Global Macro Plus". Risk.net. Retrieved 2014-05-11.
  14. ↑ "012HFM08707.indd" (PDF). Retrieved 2014-05-11.
  15. ↑ "Ninth European Performance Awards 2009". Risk.net. Retrieved 2014-05-11.

External links