Saturday, 1 August 2015
Last updated 1 day ago
Mar 26 2010 | 1:30pm ET
Commodity hedge fund firm Ospraie Management has picked up where it left off 18 months ago, when it shuttered its flagship after losing 39%.
The New York-based firm unveiled two new hedge funds over the summer, quickly collecting $100 million despite their predecessor’s troubles. Their faith in Ospraie founder Dwight Anderson has been rewarded: The new Ospraie Commodity Fund returned 12.4% in its first six months, and is up 1.9% this year, Reuters reports. Its companion Equity Fund returned 14.6% last year and is up 0.8% in January and February.
And Anderson has been amply rewarded himself. Investors have poured another $500 million into the funds. While a far cry from Ospraie’s peak of $9 billion, much of the money for the new funds has come from former investors, according to Reuters.
The new Ospraie funds are outperforming their peers in the early going. The HFRX Commodity Index lost 3% last year and is down 2.2% this year.
May 27 2015 | 2:15pm ET
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