Friday, 1 July 2016
Last updated 6 hours ago
Apr 19 2011 | 12:47pm ET
Despite the tragic earthquake, tsunami and nuclear crisis in Japan just a week-and-a-half into its young life, MRI Gardner's new Absolute Return Commodities Portfolio managed a positive return in its first month.
The fund did lose substantial ground as a result of the disaster, but finished the month up 2.12%. It had been up as much as 5.6% during the first two weeks of March.
"Our launch of the MRI Gardner Absolute Return Commodities Portfolio has proved to be a success despite the volatility around the tragic events in Japan, whose effects were felt particularly through most of our intra-month trading," MRI Gardner CEO Mirko Bischofsberger told HedgeCo.net. Bischofsberger said the firm maneuvered through the Japanese tragedy "in the most conservative way."
Swiss-based MRI Gardner said that it is keeping its eye on "the continued expansion in the developing countries, the recovery in the USA and the general supply constraints across the commodities."