Armajaro Aset Management’s had a rough couple of years, having split from its commodities trading business in 2013 and shut its flagship commodities hedge fund last year.
Luckily, they’ve usually been able to rely on trader Anthony Ward, aka Chocfinger, who trades chocolate and coffee and not much else. But Ward has been diversifying, so if his main two vices should ever fail him, he’s got a backup.
St Aubyn Leschallas Wines, a joint venture between Armajaro and wine experts Rupert St Aubyn and Simon Leschallas, generated sales of $1.3m (£850,000), making a slim $7,000 profit for the year ending December 2014 – the first since it was founded in 2010.
The hedge fund’s South African winemaking business, Vondeling, also increased year-on-year sales and benefited from the weak South African rand.
‘Chocfingers’ hedge fund drunk on wine success [Independent]