Strong

Reliable
Uncorrelated

Returns
Commodity

Fund

We are commodity investors, specialising in a relative value strategy. We blend fundamental and quantitative expertise to produce returns which have low correlations to major market indices.

But we are different to other commodity investors.

We offer a unique blend of hands-on commodity experts, fundamental analysts and quantitative specialists, delivering uncorrelated alpha to you through our fund vehicle. Our trading strategy is built on a deep, practical understanding of the physical commodity markets from years supporting and participating in all sides of the sector.

VITAL STATISTICS

EXPERTS IN COMMODITIES

ONE FUND Focused on delivering uncorrelated alpha

SPECIALISTS Commodity investing is all we do
Performance

19.2% Annualised net performance since inception (Polar Star FR QIHF)

8.8% 2023 YTD net performance (Polar Star FR QIHF at 31 Oct 2023)
TEAM EXPERIENCE

100+ YEARS Combined team experience trading physical & listed commodities

15+ Years Managing a commodity hedge fund strategy

We understand the real-world implications of market moves because we have dealt with commodities in the real world.

Polar Star Value

UNCORRELATED ALPHA

Global agricultural markets operate independently of global equity and fixed income markets providing diversified returns, and our relative value approach reduces correlation to typical commodity funds.

DIFFERENTIATED COMMODITY INVESTING

With approximately 95% of our assets in relative value strategies, we offer a different option to the more common “buy and hold” or “trend following” strategies employed by many other commodity investors.

ROBUST RETURNS

In times of market turbulence our team have a long track record of not just preserving capital, but delivering high double digit returns.

BROAD AND DEEP EXPERIENCE

Our team have direct experience of all sides of the agricultural commodity markets, from producers and processors, through banking and trading houses, and we leverage other specialist skills in e.g. quantum mathematics and data science to stay ahead of the pack.

INTERESTS TRULY ALIGNED

80% of our personal net worth is invested in our funds and 75% of the business is owned by employees, which is reflected in our focused approach to managing risk at all levels of the organisation.

WE HAVE A PROUD HISTORY OF DELIVERING ABOVE-MARKET RETURNS OVER MORE THAN A DECADE

HERITAGE

Heritage

Our founding investment team have worked together for almost twenty years. Firstly they established the commodity desk at an investment bank, before spinning out their successful relative value investment strategy to offer their uncorrelated returns to investors through a fund structure. Now, PolarStar Management is a leading agricultural commodities fund manager with an investable product and a team of eleven. Throughout this period of sustained growth, the firm has remained true to its founding principles: 1.) Absolute alpha: Fund performance must be independent of market direction; 2.) Enhanced diversification: Deliver returns that are uncorrelated to CTAs, hedge funds, major equity & commodity market indices; & 3.) Risk first approach: Structure trades so that losses are limited. Testament to this are the many long-term relationships that remain with institutions, family offices and qualified private investors.

2002
2005
2010
2016

2002

Investment team build out commodity desk within Rand Merchant Bank (RMB).

2005

Relative value strategy at the heart of Polar Star is originated within RMB.

2010

Investment team spin out of RMB to launch the Polar Star Fund, a relative value commodity fund.

2016

RMI Investment Managers (a 100% subsidiary of the holding company which, at the time, owned RMB) acquires 26% stake in PolarStar Management.

We blend complementary skills and techniques to deliver superior returns

Team

In our core markets, trading opportunities arise from intrinsic market imbalances, but are not easy to discover or trade profitably. By combining experienced physical and derivative commodity traders and financers, with superior quantitative specialists, we have built an investment team and processes optimised to make the most of these opportunities for our investors. We have embedded this team within a highly collaborative environment, supported by an exceptional team with experience in risk management, hedge fund operations, accounting and fund administration.

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SUSTAINABLE & RESPONSIBLE COMMODITY INVESTING

SUSTAINABILITY

SUSTAINABLE COMMODITY INVESTING

Economic, Social & Governance (ESG) considerations are applicable to every element of our business activity, from operational considerations, through to geographic positioning. PolarStar is committed to deploying capital aiming to generate a positive impact on environmental and social issues, alongside preserving and growing our investors’ assets over the long-term.

E.Environmental
Factors include:
S.Social
Factors include:
G.Governance
Factors include:

Environmental
Factors include:

PolarStar recognises the impact of a growing population on the planet’s finite resources. This is what drives our desire to improve access to affordable and sustainable commodities.

SUSTAINABLE INVESTING

Both academic research, and our historic performance, suggest that sustainable investing can be a material driver in delivering absolute returns for our investors.
EFFICIENT & SUSTAINABLE COMMODITY PRICES

Our relative value approach to commodity investing impacts the markets we trade by reducing volatility and highlighting pricing inefficiencies.

Social
Factors include:

Our commitment to social responsibility is core to who we are as a company. We believe strongly in inclusivity for a unified outcome.

DIVERSITY, CULTURE, ENGAGEMENT & GROWTH

Diversity and inclusion are absolute necessities for PolarStar’s highly collaborative working environment. We want our people to flourish and contribute to creating fair and sustainable value.
LEARNING & DEVELOPMENT

Our focus on innovation demands ongoing team development and growth through learning. We invest in tools and programs which support our people to reach their full potential.
SAFETY, HEALTH & ENVIRONMENTAL (SHE)

Safety, Health & Environmental (SHE) protection measures are embedded for all PolarStar employees.

Governance
Factors include:

Strong corporate governance promotes investor confidence & is essential to creating and preserving value for our shareholders. Governance ranges across corporate activities including board and management structures, company policies, standards, information disclosure, auditing & compliance.

CORPORATE GOVERNANCE

We have an effective and highly skilled Board of Directors representing three divisions of the business: i) CIO; ii) Investment Committee Member; & iii) COO. We promote board diversity in all its facets, including skills, experience & gender.
TRANSPARENCY

We aim to offer the highest levels of transparency to our investors and shareholders, and fund information is available directly from our website.
ETHICS

All directors and employees are expected to conduct themselves in accordance with the highest moral and ethical standards, guided by our robust Code of Business Conduct and Ethics. We enforce strict policies which protect against all forms of unlawful discrimination and harassment. We encourage honest and direct communication to resolve issues and concerns in an expeditious manner.

A COMMODITY FUND, OFFERING DIFFERENTIATED RETURNS.

BROWSE OUR FUNDS

LEARN MORE ABOUT THE IMPACT WE COULD MAKE TO YOUR INVESTMENT PORTFOLIO.

We are commodity investors, specialising in a relative value strategy. We blend fundamental and quantitative expertise to produce returns which have low correlations to major market indices.

But we are different to other commodity investors.

VITAL STATISTICS

EXPERTS IN COMMODITIES

Performance

TEAM EXPERIENCE

Polar Star Value

Polar Star value

HERITAGE

Heritage

Team

Team

SUSTAINABILITY

SUSTAINABLE COMMODITY INVESTING

SUSTAINABLE INVESTING

EFFICIENT & SUSTAINABLE COMMODITY PRICES

DIVERSITY, CULTURE, ENGAGEMENT & GROWTH

LEARNING & DEVELOPMENT

SAFETY, HEALTH & ENVIRONMENTAL (SHE)

CORPORATE GOVERNANCE

TRANSPARENCY

ETHICS

BROWSE OUR FUNDS

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