Dr. Paul Netherwood has made his mark in the world of asset management and hedge funds. He has been the founder and owner of Horizon3 Investment Management LLP since 2005. Paul started his career at AHL (now part of Man Group plc) and later moved to Nomura, where he built risk management systems. He has a PhD in Computer Science and AI and a BSc (Hons) in Computer Science from Kingston University London and is authorized by the FCA in the UK (PXN01140) and by the NFA in the US (0354204).
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Invest in Circle Fund and enjoy an above average performance and a lower than average risk.
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€65.15 M
Total invested capital Circle Fund Management
(As of February 1, 2026)
(As of February 1, 2026)
62.61%
Total composite return since inception (Class A EUR)
1.58%
Average return per month since inception (Class A EUR)
Our goal
Offer participants an attractive alternative to traditional investments such as stocks at an acceptable risk.
Discover the fundGet to know us
We are regularly guests in Business-Class on RTL 7 to explain the latest developments.
Watch the interview about our institutional growth and associated bond offerings now.
More information can be found at www.h3im.nl.
Watch the interview about our institutional growth and associated bond offerings now.
More information can be found at www.h3im.nl.
Participation options
Tracker certificate
ISIN: CH1403552461
The tracker certificate is available to professional investors and asset managers.
Through ISIN code CH1403552461, you can participate in our fund without changing your existing relationship with your trusted manager.
Invest from €100,000
ISIN: NL0015001DD5
This entry level is available to anyone who does not want to participate via their own bank but would prefer to participate directly through Circle Fund Management from the minimum required lower limit.
Invest from €500,000
ISIN: NL0015001DF0
This class is for anyone who wants to immediately benefit from significantly lower costs and for those who move on from the entry class due to additional deposits into the fund.
Invest through your bank/broker
ISIN: DE000A3G95N4
this listed certificate allows investors to gain exposure to the performance of our fund without actually acquiring shares in the fund.
Team
Panayiotis Christodoulou
CEO & Fund Management
After completing his studies in London, Panayiotis held the position of Head of Sales at regulated financial institutions for several years. As a seasoned business developer, over the past decade, he has deployed his expertise to three leading companies on various continents, always under the supervision of national and international regulators such as FCA UK, CMA and ESMA.
His leadership ultimately culminated in the role of Head of Business Development department, where he led a team of more than 70 employees. Panayiotis' track record includes successfully placing more than €150 million in institutional and retail fund assets.
Jesper Petersen
Counsellor
Jesper Ronald Petersen has extensive experience in corporate & investment banking, trading & markets, fintech and digital transformation. He mainly gained that experience in the 30 years that he worked at Danske Bank. During that period, he worked from global head of FX & e-trade to global head of financial institutions and deputy general manager-UK. Today, he is a member of a number of boards of directors as a non-executive director and is authorized by the FCA in the UK and the Danish FSA (EU). Petersen studied at Copenhagen Business School (CBS) IMD and Stanford.
Why Circle Fund?
Invest in a proven strategy
Our applied strategy has a positive track record that spans several years, starting in November 2020.
Fair, low costs
We are convinced of the effectiveness of our approach and therefore use a “hurdle rate” of 10%. This means that no performance fee is charged on the first 10% return you achieve. In addition, the performance fee is only calculated afterwards at the end of each year.
The favorable combination of a low cost structure and the “hurdle rate” ensures that your return with us can be significantly higher than with funds without a “hurdle rate”.
Reliable and secure
We are registered with the Dutch Financial Markets Authority (DIM ID: 50032906), registered with the German Bundesanstalt für Finanzdienstleistungsaufsichten (Bafin ID: 70171037), registered with the English Financial Conduct Authority (FCA ID 1024264) and affiliated with the Financial Services Complaints Institute (Kifid) with connection number 400.000499.
The fund assets are placed in a separate foundation, the Circle Fund Legal Property Foundation, which is managed by IQ EQ Custody B.V. to ensure proper separation and protection of participants' invested funds.
IQ EQ Custody B.V. is supervised by De Nederlandsche Bank.
Do you prefer to invest without market risk?
Then invest in swap arbitrage bonds and receive a fixed interest rate of up to 11% per annum with quarterly distributions.
