About Us
Dorset Fund Management LLC ("DFM")
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DFM is a hedge fund manager specializing in global commodity markets, targeting institutional and high-net-worth investors.
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DFM is registered with the CFTC as a Commodity Pool Operator (CPO) and is a member of the NFA.
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DFM manages funds to provide U.S. and offshore investors with exposure to a multi-strategy portfolio of uncorrelated commodity sectors.
Our Approach
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We seek commodity specialists who are professional traders with significant experience in their underlying physical commodity group.
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We allocate risk capital to fundamental, discretionary traders with specialized knowledge and active information networks, and a proven ability to monetize their edge.
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We combine these traders in a multi-strategy portfolio, aiming to provide the benefits of uncorrelated strategies in uncorrelated assets.
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Our traders each operate a managed futures trading account in our omnibus account structure. This gives us:
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transparency;​
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control;
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liquidity;
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capital efficiency; and
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the ability to allocate assets dynamically.​
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Meet the Partners
Julian Rundle
CIO
Julian Rundle has been Managing Partner of Dorset Fund Management since the company’s inception and chairs its Investment Committee. He has more than 25 years of experience in successful management and trading of commodities and the oversight of traders in commodities and natural resources. At Dorset Fund Management, he oversees the management of hedge fund portfolios, as well as taking the lead role in the due diligence process for all traders and investment managers. Mr. Rundle began his career in asset management at Balfour Maclaine International Inc., a U.S. subsidiary of Bowater Corp of the UK, where he developed and successfully managed its North American Commodities portfolio. He subsequently managed commodities portfolios and supervised commodity traders at Commodities Corporation in Princeton, NJ (which was later acquired by Goldman Sachs). He was also a Member of the Chicago Mercantile Exchange. Since 2001, and prior to establishment of Dorset, Mr. Rundle advised Macquarie Bank on all aspects of its hedge fund investment activity. Mr. Rundle is Australian and is a resident of Greenwich, CT. He was educated at the University of Sydney Faculty of Arts and Faculty of Law in Australia and Columbia Business School in New York. Mr. Rundle is a member of the Executive Advisory Board of the Program for Financial Studies at Columbia Business School.
Michael Dubin, Ph.D
CFO, CRO, CCO
Michael Dubin is Managing Partner whose main responsibilities, in addition to supporting Julian Rundle as CIO, include heading the Risk Management, Compliance and CFO areas, as well Chief Administrative Officer, coordinating with the COO on areas of operations. For more than a decade, he led the alternatives group at Silvercrest Asset Management, a $25B wealth management firm, advising on $2 billion in hedge fund-of-funds and customized portfolios of alternative investments. Prior to Silvercrest, as a Partner at Powers & Dubin for over 15 years, he developed their expertise in hedge fund-of-funds and managed futures. Previously, for nearly a decade in the 1980’s, he served as President of both Morgan Stanley/GFTA and GFTA Services, which marketed sophisticated multi-billion-dollar currency risk management systems for major institutions worldwide. Earlier, he led the International Financial Advisory Service at Brown Brothers Harriman & Co., advising the Treasurers of the Fortune 500 companies on currency risk management during the early days of floating exchange rates. He has a Doctorate of Business Administration (PhD) from the Harvard Business School in International Finance and a BA from Yale University in Molecular Biophysics and Biochemistry. He authored the book, Foreign Acquisitions and the Growth of the Multi-National Firm. He holds a Series 3 Registration with the NFA/CFTC, and served on several Advisory Boards, including the Institutional Investor RIA Institute. He serves as a Director & Treasurer for several non-profits and was Chairman of the Endowment Committee of the Town School, where he was a Trustee and Treasurer for over a decade. He is a past member of the Chicago Mercantile Exchange.
Jonathan Hall, CFA
COO
Jonathan Hall is Chief Operating Officer and is a member of Dorset's Investment Committee. He spearheads the Investor Relations, Counterparty Relations and Technology Integration functions, having joined Dorset Fund Management in October 2023. His responsibilities include new trader recruitment and selection, and systems enhancement. He has more than 30 years of experience in financial markets and institutional asset management. He began his career with Bain Refco Commodities in 1990 in futures and foreign exchange, specializing in hedge fund and CTA institutional client business, including trading bank bill futures and bond options on the trading floor of the then Sydney Futures Exchange. After Bain was acquired by Deutsche Bank, he developed algorithmic systems in futures markets and traded proprietary capital for Deutsche Bank Australia. He joined Macquarie Bank in 1998 to develop their futures business for hedge funds and in 2001 joined Macquarie Asset Management to develop structured products and portfolios of hedge funds and CTAs for institutional investors. He served as a member of the multi-manager investment committee for five years (working with Julian Rundle) before being promoted to lead business development globally for Macquarie’s new single-strategy hedge fund business, which he helped grow to include more than a dozen strategies, with the quantitative equities strategy alone growing to more than $3 billion. Mr. Hall’s role included negotiating all client and counterparty contracts for more than a decade and for two years, he was also Portfolio Manager of the Macquarie Americas Alpha Fund. Mr. Hall has a Bachelor of Economics from the University of Sydney and is a CFA charterholder.