Saturday, 25 April 2015
Last updated 1 day ago
Apr 12 2010 | 1:32pm ET
Through the end of February, BlueGold Capital Management found itself in an unfamiliar place: negative territory. But a torrid March has pushed the firm, which has returned some 380% since inception two years ago, back into the black.
The London-based energy hedge fund soared 12.5% last month, Bloomberg News reports. The average hedge fund managed a return closer to 2.5%, and even the Standard & Poor’s 500 Index’s 5.88% jump was left in the dust.
The strong March leaves BlueGold up 1.5% this year, an impressive turnaround from February, when US$1.7 billion firm was forced to deny rumors that is was liquidating its portfolio and closing its doors. Through early February, BlueGold was down about 11%.
BlueGold’s turnaround coincides with that of oil prices. Crude oil traded in New York was down 8% in early February, accounting for the hedge fund’s difficulties, but is now up 7.4% on the year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…