Odey-backed Latitude officially launches and rolls out first fund
Latitude Investment Management has announced the official launch of the firm and its first fund, the Latitude Horizon UCITS V fund.
The fund, which began accepting investment from new shareholders today, is a global long only diversified growth fund targeting absolute returns, with lower volatility and lower fees, the firm said in a statement announcing the dual launch today.
Latitude Investment Management, is an investment advisory firm recently founded by Freddie Lait, a former Odey Asset Management fund manager who has chosen to set up his own firm with the financial backing of Odey and other private investors, including family offices and individuals from the fund management industry.
The Latitude Horizon fund will invest in a concentrated portfolio of stocks which have high-quality business characteristics and strong, or improving, industry dynamics, the firm said. Alongside this, non-equity investments will be made to “generate uncorrelated returns, reducing risk without compromising performance”.
No performance fee
The fund will charge management fees of 1% and has no performance fee.
In the last couple of weeks the company said that it has seen significant support from investment platforms, prior to the business going live today.
Commenting on Latitude’s official launch, managing partner Freddie Lait said: “With the continued support from current fund investors and our shareholders in the business, including Odey, I believe we are well positioned for the future.”