According to the UK wealth manager, the proposed financials fund will be launched with assets of up to $100m and will carry out trading activities in banks, insurance firms, asset managers and other financial companies.
The World Bank will own about 6% of the firm’s trading arm, while the move is expected to shift the London-based Armajaro from its commodities base.
Established in 2009, the company’s asset management division has already begun trading an emerging markets-focused fund.
The firm expects the fund to achieve a target size in excess of $1bn.
The fund manager, Armajaro has engaged TT International’s executives, Ben Steele and Peter Walters, to manage the project.
Armajaro chief executive Harry Morley said, "We’re not launching a product because it’s a hot space. We’re launching it because we believe there is a long-term opportunity for returns."
