London, 10 October 2016 – Latitude Investment Management (“Latitude”), recently founded by Freddie Lait, is pleased to announce the launch of its first fund, The Latitude Horizon Fund. The new fund will spin out of Odey Asset Management in early November.
The Latitude Horizon Fund (UCITS V) is a global long only Diversified Growth Fund targeting absolute returns, with lower volatility and lower fees.
The Latitude Horizon Fund will invest in a concentrated portfolio of stocks which have high-quality business characteristics and strong, or improving, industry dynamics. Alongside this, non-equity investments will be made to generate uncorrelated returns, reducing risk without compromising performance. The relative allocation of asset classes will be determined by analysing cyclical factors with a long term, capital preservation objective.
Prior to founding Latitude, Freddie Lait worked at Odey Asset Management for six years, having previously worked at NM Rothschild and Goldman Sachs. Mark Carter has joined as Chief Operating Officer from Vinci Zafferano, where he was Head of Operations and Risk Management. Emma Barrat, who has joined from Oppenheimer where she built out a third party fund distribution business, will be responsible for sales and marketing.
Latitude is heavily aligned with its investors, offering a clear, transparent, and fair charging structure. The Horizon Fund will charge low management fees of 1% and no performance fee, believing that strong performance should always be an objective, alongside risk control and preservation of capital.
Commenting on Latitude’s launch, Freddie Lait said:
“I am very pleased with the outstanding support I have received from investors in the fund and new investors in the management company. Latitude is well capitalised and ideally placed to provide a best in class Diversified Growth Fund to institutions and private wealth managers in the UK and Europe. Latitude’s investment strategy follows an absolute return framework - the fastest growing sector in the active management industry - with the belief that diversified portfolio construction, combined with strong risk control, generates more desirable risk adjusted returns than employing leverage or shorting strategies.
We believe there is a significant opportunity to provide investors with an experience that combines strong performance with low volatility, low management fees and transparent reporting and charging structures. The current environment of increased volatility and uncertainty is driving more institutional investors towards absolute return strategies, and we look forward to working with those investors in the near future and in the years to come”
Freddie worked at Odey for 6 years prior to founding Latitude Investment Management. At Odey his primary focus was managing the Odey Atlas fund with a focus on fundamental stock selection and asset allocation. Prior to joining Odey Freddie spent two years at NM Rothschild where he was a portfolio manager with a focus on US equity analysis and asset allocation. Prior to that he worked at Goldman Sachs where he was an analyst focussing on US equities and building long term asset allocation models. Freddie has a MA in Maths from Oxford (St Edmund Hall) and is a CFA Charterholder.
Mark has over 15 years of experience in the Asset Management industry and prior to joining Latitude Mark was Head of Operations and Risk Management at Vinci Zafferano (UK) LLP, a London based Emerging Markets Macro Hedge Fund manager. Mark holds a BSc with Honours from the University of Greenwich, London, the Securities Institute Administration Qualification (IAQ), the Investment Management Certificate (IMC) and is currently completing the Association of Chartered and Certified Accountants qualification (ACCA).
Emma has over 14 years of experience in the financial sector. Most recently she was in charge of building out the third party fund distribution business at Oppenheimer, targeting institutional fund investors based in Europe and the UK. Prior to that she worked in the cash equities businesses of Oppenheimer, and CIBC WM focussing on North American equities. Emma holds a Bachelor of Science degree from Loughborough University and the Security Institute Security and Regulation certificate.