A commodity hedge fund managed by a pair of former Cargill traders is making a bid for a seventh-straight positive year.
The Merchant Commodity Fund erased its year-to-date loss in September, rising 12.7% on the month. The fund is now up 7.5% in 2010, Bloomberg News reports. The $1.1 billion agriculture and energy fund is headed by Michael Coleman, based out of Singapore, and Doug King, who works in Zug, Switzerland.
Merchant Commodity returned 5.2% last year and 24% in 2008.
The average hedge fund returned between 3% and 3.5% last month, according to industry indices. The Standard & Poor's 500 Index rose 8.9% in September.