BlueGold Bounces Back With Big March

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...