Get in touch with us at info@wmccapital.com
​Investing in the Opportunities
of Global Shipping
WMC CAPITAL
About us
WMC Capital Ltd. is a boutique investment company based in London, UK, founded by Will Homan-Russell, Magnus Halvorsen and Cato Stonex, focussed on investing in Global Shipping markets and related industries.
Our Fund, the Albemarle Shipping Fund, aims to create long-term capital appreciation over the cycle with an unconstrained approach and relatively low correlation to broader markets.
FUTURE OF SHIPPING
Shipping
Shipping is fundamental to global trade, facilitating the movement of nearly 90% of the world’s goods across international waters. After a prolonged period of underinvestment, the industry is now entering a strong recovery cycle, driven by a reduction in capacity causing tightening utilisation. Simultaneously, the sector is undergoing a structural transformation, driven by innovation in alternative fuels, next-generation powertrains, and accelerating digitalisation. These shifts are creating compelling long-term investment opportunities as shipping evolves to meet the demands of a more connected, sustainable global economy.
GLOBAL FUND
Albemarle Shipping Fund
The Albemarle Shipping Fund is a global equity, commodity & freight long/short fund investing in the shipping sector with the objective of long-term capital appreciation with an unconstrained approach.
​
Investments are selected using fundamental analysis and primary research to construct a concentrated portfolio of 20-30 high conviction positions with typical holding period of >6 months. The portfolio is strongly directional, aiming to generate alpha in all phases of the cycle.
WMC CAPITAL TEAM
Will Homan-Russell
Will has been investing in Shipping for over 20 years. After graduating from the University of Oxford with an MA in Mathematics, he joined Tufton Oceanic in 2003 initially as a Credit Analyst in the Company’s vessel leasing business. In 2005, he joined the Tufton’s ‘Oceanic Hedge Fund’, initially as an analyst before later becoming the lead Portfolio Manager for Shipping investments as well as the Head of Risk for the Fund overall. Will is the Chief Investment Officer at WMC Capital, where he leads the Investment Committee and is the Portfolio Manager for the strategy. Highly respected within the sector, he is a Non-Executive Director for SFL Corporation Ltd.
Magnus Halvorsen
Magnus began his career in 2003 as a broker at Pareto Securities in Oslo, where he focused on Shipping and Energy Sectors and was responsible for the firm’s US operations. In 2009, he joined Platou Markets as the Head of Capital Markets helping the company become the largest raiser of equity within Shipping markets by 2014. Magnus is a co-founder of WMC Capital and serves on the companies Investment Committee. He is also the Non-Executive Chairman of 2020 Bulkers, a Norwegian listed dry bulk company which he founded in 2017.
James Whitehorn
James began his career as a Treasury Dealer before joining Morgan Stanley International in 2011, where he became a Portfolio Manager on a global team with $2bn of AUM and specialising in Japanese and Asia- Pacific equities. James transferred to Credit Suisse in 2014 following an M&A acquisition and became the Chairman of the Japanese stock selection committee for client investment portfolios. In 2017, he joined Aon Investment Solutions' Fiduciary Management team, focussing on Alternative Investment Strategies, before joining the team at WMC Capital Ltd in 2018. Today, James is the CEO of WMC Capital, supporting Will with both the trading and risk management of the strategy, as well as managing the Marketing and Operations functions at the company.
Marco Di Matteo
Marco began his career in 2014 at Goldman Sachs in London as an equity research analyst cover the banking sector, eventually assuming the role of lead analyst on Nordic banks having previously covered firms across Switzerland and Southern Europe. In 2019, he joined AP Moller Holding – the investment group of the Maersk family – covering the groups substantial holdings across the financial and bank sectors and advising on investments and transactions across other sectors for the group. Marco joined WMC Capital in 2022 and is the Company’s Head of Research, supporting investment decisions with analytical research focussed on macro / thematic trends, as well as stock specific updates.
Cato Stonex
After graduating in 1986 from the London School of Economics, of which he is now an Emeritus governor, Cato joined Morgan Grenfell and became an Assistant Director in the European government bond trading division. He left in 1989 for J. Rothschild Investment Management, which is where he began his association with Nils Taube and John Hodson. Taube Hodson Stonex partners was founded in 1996, and invested in equities on behalf of pension funds and large institutional clients from the UK, Europe, Asia and Australia, with peak AUM of $20bn. In 2018, along with Will and Magnus, Cato founded WMC Capital and is part of the Investment Committee. Outside of WMC Capital, Cato holds advisory positions on multiple investment committees, including a University endowment and Family Office Boards, and is a Director of numerous private and public companies in a variety of sectors.
ENVIRONMENT | SOCIAL | GOVERNANCE
ESG in Shipping
We believe that it is incumbent upon us as investors to respond to the environmental and social challenges facing the world and that exciting opportunities will emerge as the global economy responds to these challenges.
​
​Whilst the Fund does not have as its objective Sustainable Investment, effective ESG-conscious investing in the shipping industry will be a key determinant of performance for strategies in our sector. Fully incorporating ESG considerations in our portfolio construction process will therefore significantly contribute to delivering risk-adjusted returns, and the Fund promotes environmental and social characteristics and invests in companies that apply good corporate governance.
​​​​
Shipping companies have a central role to play in making the transition to a low carbon economy, both in terms of more sustainable means of energy generation, reducing emissions and other environmental impacts from their own operations and in delivering the raw materials which will be required to deploy cleaner technologies.
​
​
