"Most boutique fund managers employ an in-house programmer which can be to their detriment, as they are dependent on usually one person and also I have found they would not deliver on time or worse not build what was required.

"Groundhog, however, had a team work on our project which neutralizes the risk associated with having one person and they documented clearly each stage of the build process, so we could monitor and comment as the project progressed."

Commager works by trawling commodity sectors such as Hydrocarbons and energy, grains, metals and soft commodities like sugar, coffee or cotton.

The commodity investments are benchmarked against the Goldman Sachs Commodity Index (24 commodities from all commodity sectors) and the Commodity Research Bureau (CRB Index 19 commodity future prices).