2007

Tufton Oceanic Launching New Small Cap Fund

On the day we looked over Tufton Oceanic’s latest hedge fund offering, Oceanic Small Cap Fund, a $100 to $200 million fund focusing on the energy and shipping sectors, oil hit $70 a barrel. Marine Money Week was a month away and Navios had delivered a 131% return since the previous Marine Money Week 2006.

Maybe it is the positive macro trade and energy consumption characteristics of the current world economic scene, recent share price performances or perhaps it is the successful track record Tufton’s hedge fund management brings to the table, but we are confident that the raise being undertaken will be successful.

The Fund out raising money now targets a final closing in July. $50 million is already committed.

Tufton has more than $1.3 billion under management through four funds, $700 plus million in their initial Oceanic Hedge Fund. This latest looks to take advantage of the firm’s specialist shipping expertise and track record in private and public investments to make private equity investments into small, high growth shipping and energy companies planning on being introduced to the stock markets. A second strategy will be to invest in low liquidity small cap listed companies currently too small to attract traditional fund investments, or Rule 144a registered companies, where a lack of visibility in the investor community often translates to a discount valuation.

This is only an excerpt of Investing Opportunity – 05/24/2007

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