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17 Feb 2009

Diamond Hedgers Report Increase in Fund Assets

Recently launched Codiam Fund, which invests in pre-cut colored diamonds, has reported an increase of 9% in the fund's net asset value over the first three months of trading.

"We launched the fund in difficult market conditions, confident that our experience and expertise would enable us to identify and purchase rare coloured diamonds that would grow in value for our investors, and the increase to our net asset value has proved this to be true," says Codiam managing director Philip Baldwin, who co-founded the business with Mahyar Makhzani.

The fund managers believe the colored diamonds offer a hedge against market and political crises, as they have not decreased in price on a wholesale level in 35 years, consistently outperforming other diamond categories, with their value increasing on average between ten and 15% a year.

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