Wednesday, 24 August 2016
Last updated 4 hours ago
Jan 18 2011 | 3:04pm ET
Centaurus Energy suffered its first-ever annual loss last year, dropping almost 4%.
The Houston-based natural gas hedge fund was battered by the market in that commodity, an investor told Reuters. The fund was up 30% in 2009.
"No one made any real money on natgas last year and for Centaurus it was harder, with the authorities breathing down their neck," the source said. The $5 billion firm was slapped with a $15,000 fine earlier this month for violating position limits on the New York Mercantile Exchange. What's more, proposed trading limits are thought to have caused Centaurus founder John Arnold to rein in his trading.
Despite that speculation, Arnold has said he is in favor of imposing limits on speculative natural gas trading.