Saturday, 23 August 2014
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note