Thursday, 23 October 2014
Last updated 4 min ago
Oct 6 2010 | 12:24pm ET
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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