VECTOR

Vector Commodity Management LLP is a London based hedge fund manager investing in the global oil market through crude oil and refined products.

Vector Commodity Management LLP manages the Vector Commodity Fund Malta SICAV Limited. Vector's investment approach will be to generate returns for clients by investing exclusively in the oil and refined products markets. Vector will focus on relative value strategies to generate absolute returns, complemented by directional and shorter-term opportunistic positions. The team at Vector has over 30 years of experience within the commodity markets, with each complimenting and adding to the each others' skill set, resulting in a very focused and resilient team.

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Vector Commodity Management LLP is authorized and regulated by the Financial Services Authority

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Oil Donkey

INVESTMENTS

Vector Commodity Management LLP believes effective exposure to the oil complex, on either a strategic or tactical basis, is much more diverse (or complicated) than taking a simple long futures position. The majority of the risk will usually be assigned to relative values positions, with a strict drawdown management plan enabled by a highly liquid portfolio. Relative value positions shall often be expressed through futures and swaps, and directional primarily through options. An emphasis on fundamental analysis is complemented by strong information flow capture from an established relationship network throughout the physical and financial markets. Vector's fundamental analysis will often begin at the refinery level and consider the regulation, supply, demand and logistics driven impact on refined products and crude of different qualities and delivery points. In addition to proprietary analysis, Vector will support its fundamental analysis with bespoke consulting research. Vector is restricting the size of the fund to $600m in order to ensure that we stay true to these values, and never become too big to exploit the nuances of the relative value space.

 

EXECUTIVE TEAM

GIL SAIZ

At Vector, Mr Saiz is a Managing Partner and the Chief Investment Officer.

Gil spent his entire career at J. Aron / Goldman Sachs & Co. Gil received a Bachelor of Science degree in Industrial Engineering and Operations Research from Columbia University School of Engineering and Applied Sciences in 1997. He also received his Bachelor of Arts in Economics from Columbia College in 1998.

From 2005-2009, Gil was an Executive Director in charge of Goldman Sachs and Co's European Fuel Oil business. His main focus was on crude oil and refined products, and in particular the fuel oil complex. His primary trading strategy involved trading crude oil thru products, and was successful at calling for large structural shifts in the fuel complex. In addition to relative value positions (trading refined products vs. crude oil), Gil also traded crude and refined products through a variety of directional and options based strategies.

From 2001-2004, Gil was part of a two-person team responsible for European Fuel Oil trading. This team was particularly successful at calling for a large shift in fuel oil cracks and generally wider sweet – sour differentials.

From 1998-2001, Gil worked in NYC as part of a two-person team responsible for Fuel Oil Trading. In summer 2001, he was asked to re-locate to London to help build the European Fuel Oil Business.

EDMUND GORDON CLARK

At Vector, Mr Gordon Clark is a Managing Partner and the Chief Executive Officer.

Mr Gordon Clark has over fifteen years' financial experience, culminating in his most recent role where he worked for seven and a half years at ICAP Plc, where he was the Managing Director of shipping derivatives, responsible for managing and co-ordinating the broking of both tanker and dry bulk derivatives worldwide, setting up businesses in Singapore, North America and Greece.

Prior to this , Mr Gordon Clark worked in Hong Kong running the structured credit products desk for ICAP, and before that he worked in New York running the third world debt option desks for both Tradition North America and Cantor Fitzgerald. He has been registered with the US Securities and Exchange Commission, having passed both Series 7 and Series 63. In addition, Mr Gordon Clark has been registered with the Hong Kong Monetary Authority.

In addition to his role as CEO, Mr Gordon Clark is also the head of the Risk Committee, and will be the in house Compliance Officer liaising with Kinetic Partners.

 

INVESTMENT TEAM

Gil Saiz is a Managing Partner and the Chief Investment Officer.

At Vector, however, we firmly believe that a team structure often produces the best results. As such, Vector is pleased to have added some extremely talented individuals as part of the Investment Team. These investment team members bring together a wide variety of skills and backgrounds, and will all work closely together actively managing the investment portfolio. Together, the investment team at Vector has over 25 years of expertise within the energy spectrum, with each complimenting and adding to the others skill set. At Vector, we firmly believe in the team approach.

 

GEORGE HOGER

George has over ten years experience in the oil / exotic commodities markets, having worked at Credit Suisse – Glencore Alliance, JP Morgan Chase and Goldman Sachs. At Credit Suisse he was global head of fuel oil trading, having first set up the crude swaps and options trading desk. He was also responsible for setting up the fuel oil desk in North America, managing a team of three traders. George began his career in Goldman Sachs' middle-office, with a focus on risk management for exotic commodity transactions including energy, natural gas, power and metals. From risk management he moved into trading crude swaps and options at Goldman Sachs, focusing on relative value yield curve opportunities and managing positions resulting from large producer and consumer energy hedging programmes. George brings with him a unique understanding of how the physical markets converge with the financial markets.

BEN DILKES

Ben has over six years experience in the financial markets, ranging from investment banking to most recently managing a profitable oil trading book at the Credit Suisse Desk – Glencore Alliance. Before Credit Suisse, he traded swaps, futures, options, and spread options across the barrel at the JP Morgan Oil Desk. Ben combines an understanding of fundamentals with experience in crude and products options trade structuring. Educated at the London School of Economics, Ben graduated in 2005 with a BSc (Hons) in Economic History.

Risk Management
Risk Management is headed up by Edmund Gordon Clark. Vector's risk management policy is to ensure that the appropriate framework, infrastructure and controls are in place to mitigate the three categories of risk relevant to a hedge fund management company: Business risk, Operational risk, and Investment Risk. Business risk and Operational risk are the specific responsibility of the CEO, reporting to the Board of Directors. The CEO is responsible for monitoring and maintaining all control relevant to operational and business risk and, where appropriate, making sure that staff are aware of their responsibilities in this regard. The management of Vector are aware that the control framework will evolve as the business and assets under management grow and that it is the responsibility of the CEO to ensure that the appropriate infrastructure is in place to support the growth. Investment risks are covered in DDQ and prospectus, and can be discussed at length with prospective investors. In addition, Vector has employed the services of Sungard Kiodex as its risk management provider to work together in managing operational risk, quantifying market risk(s), obtaining independent market data, generating position and profit and loss reports, and generally maximizing the return on information technology.
Investor Relations
Investor Relations is headed up by Edmund Gordon Clark. In addition, Vector is working closely with Astir Capital and Energy Alpha Strategies to help build a diversified investor base. Vector believes a diverse investor base is important for the future stable growth prospects of our business and will act as a risk management tool for investors. As such, working together with Astir and EAS, Vector aims to have a broad range of investors ranging from high–net-worth individuals, family offices, funds of hedge funds and other institutional investors. Geographical diversification is just as important, and as such, Vector seeks to have an investor base across Europe, North America, Middle East, and Asia. For further information, please do feel free to contact Mr Gordon Clark. Alternatively, please find additional information on Astir Capital and Energy Alpha Strategies.

Vector Commodity Management LLP

47 Belgrave Square

London

United Kingdom

SW1X 8QR

Tel: +44(0)20 7838 6366

Fax: +44(0)20 7838 6363

Email: info@vectorllp.com