Investment Team

Len Gayler, Born 1952 – Chief Executive

Len Gayler has over thirty years’ experience trading in international markets. He worked at Hambros Bank from 1969 to 1981 where he became manager in charge of Eurobond trading and sales. From 1981 to 1984 he worked for Morgan Guaranty Limited (MGL) as risk manager for the international capital markets trading business in London. In 1984 he and three colleagues from MGL established International Financial Markets Trading Limited (IFM) with a share capital of US$25 million. By 1991, when he left IFM, it had developed into a successful specialist fund management operation in London, managing over US$300 million. As part of this transition, he spent two years in North America, investing in risk arbitrage, junk bonds and bankruptcy situations. In 1991 he returned to JP Morgan as managing director responsible for European equity trading. From 1993 to mid-1997 he was managing director of J.G.W. Agnew & Co. Limited where he originally established Apollo, then moved to Hamilton Lunn Asset Management Limited until July 2004 when the contract to manage Apollo was transferred to Cayenne.

James Hart, Born 1969 – Fund Manager

After graduating from The University of Exeter in 1992, he joined Olliff & Partners; an independent agency stockbroker, specialising in closed-end funds. He was initially responsible for the development of split capital investment trust analysis and subsequently advising and dealing for institutional investors in that sector. He then focused on broking emerging market closed-end funds to a similar client base. He joined Bank Julius Baer in 1996, to develop the bank’s emerging market funds advisory desk. He created in-house valuation models and communicated investment recommendations to all Julius Baer group entities and clients. He subsequently took over the responsibility for the Group’s fund trading and market making activity. In 2000, an internal move was made to Julius Baer’s institutional asset management division where he was in charge of managing a portfolio of closed-end funds. In early 2002 he joined Hamilton Lunn Asset Management to assist in managing Apollo and other discretionary portfolios. He moved to Cayenne in 2004.

John Tappenden, Born 1956 – Fund Manager

John has over twenty five years of investment experience. He started his career in 1978 with Grieveson Grant & Co (later taken over by Kleinwort Benson) as a portfolio manager in the Private Banking Division, responsible for portfolio management (including international equities and bonds). In 1985 he joined the Kleinwort Benson Investment Funds Division and in 1986 became the director in charge of the team, responsible for sales, market making, research, and new issues. In 1989 he joined SG Warburg Investment Funds Division (later to become a part of UBS AG) as a director specialising in institutional sales of closed end funds. In 2002 within UBS he became the director of investment funds responsible for the proprietary trading of investment trusts, US closed-end funds, offshore funds and unit trusts. During this period, he developed hedging techniques using traditional options, over the counter derivatives, futures and currencies. He joined Cayenne in 2005.

The Cayenne Trust plc. Registered in England No: 2774914
Registered Office: Springfield Lodge, Colchester Road, Chelmsford, Essex CM2 5PW, United Kingdom.