Wednesday, 25 November 2015
Last updated 9 hours ago
Feb 5 2010 | 10:52am ET
Commodity hedge fund BlueGold Capital Management has denied rumors that has liquidated its portfolio and is closing down.
According to market buzz, a sell-off by the London-based firm, which manages about US$1.5 billion, was responsible for yesterday’s 6% drop in oil prices. Rumors had BlueGold with big bets on the wrong side of the direction of oil prices. Oil prices in New York are down 8% this year.
“There is nothing going on, and it’s business as usual at BlueGold,” founder Pierre Andurand told Dow Jones Newswires.
According to Bloomberg News, BlueGold is down 11% this year, although such drawdowns are not unusual given the fund’s volatility. All told, the firm, which was founded two years ago, returned 380% through the end of last year. In 2009, it was up 55%.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…