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

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...