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Fund Manager Gains FSA Authorisation

Baynard Capital Management, the fund manager, has gained Authorisation from the Financial Services Authority (FSA). Initially Baynard will act as the Manager for the Baynard Global Fund, a global long/short equities strategy mainly focusing on shipping, basic industries and related themes.

The Baynard management team has significant previous experience with maritime investments and successfully managed the Clarkson Shipping Fund. The team has a proven track record in successfully manoeuvring through the most volatile markets and conditions. In early 2009, whilst at Clarkson Fund Management, as record market volatility coincided with huge fund outflows – as distressed investors redeemed – the manager managed to preserve capital and produce positive returns, a record not shared by most of the industry.

Lars Slaatsveen, Baynard’s CEO commented: “We are delighted to receive our FSA Authorisation. Gaining FSA Authorisation for our fund management operations was a key strategic aim for us for. Having a license in the UK in particular highlights our commitment to quality, compliance and providing an exceptional investment proposition for the Baynard fund’s investors.”

Baynard was advised by city consultancy Compliancy Services for the management of its FSA application and on-going FSA Compliance matters.