Armajaro Hedge Fund Up 3% After Cocoa Binge

Aug 5 2010 | 1:13pm ET

Anthony Ward’s voracious appetite for cocoa is paying off. Ward’s cocoa and coffee fund at Armajaro Asset Management, which last month took the second-biggest delivery ever of the good stuff, enjoyed a 3.05% return last month.

The CC+ fund was already up about 18% on the first half, Bloomberg News reports. But despite the huge cocoa buy by the man dubbed “Choc finger” by the British press, last month’s return does not appear to have been the result of Ward’s sweet-tooth.

Cocoa prices in London dropped 4.3% for September delivery, despite the fact that Armajaro bought nearly all of the cocoa represented by the NYSE Liffe’s July contract, some 240,000 metric tons, or some 7% of annual production. At the time, the delivery—enough to make more than 5 billion chocolate bars—fueled fears of a cocoa shortage in September.

Instead, the caffeinated half of the portfolio was the big performer last month, with Arabica coffee traded in New York rising 6.3%.

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...