In a HedgeCo story; Gibraltar based Sirius Investment Management is launching the Sirius Investment Fund II, a natural resource and mining-focused Fund Of Hedge Funds, which will be open to new investment on 1 November.

It will invest predominantly in hedge funds that invest in very early stage mining plays and other natural resources, projects which are not dependent on fluctuations in commodity prices to generate returns, according to Hedge Fund Review Magazine.

It is particularly interested in projects which are moving from exploration to production, the stage with the greatest uplift in valuation. Larger companies with established production are more sensitive to the commodity price, Sirius added, so the fund will not invest in such opportunities. It targets 20% and hopes to raise $300m.