The $250 million (£167.40 million) currency-focused Anglo-Swiss investment manager has around $20 million in its Insch Goldilocks Fund, with a further $10 million in managed accounts.

Kintore is a systematic trend-following investment strategy which treats gold as if it were a major currency and trades it against the dollar, euro, Swiss franc, pound and yen.

(Reporting by Simon Jessop; editing by Carolyn Cohn)