Wednesday, 23 July 2014
Last updated 38 min 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%.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…