Saturday, 20 December 2014
Last updated 1 day ago
May 17 2011 | 1:59am ET
The first week of May is getting worse and worse for BlueGold Capital Management with each new report.
The London-based commodity hedge fund, which was originally reported to have suffered “double-digit” losses, later quantified to a 20% drop during the week’s oil rout, actually lost 26%—twice as much as oil dropped during the week.
The grim new figures come from two Bloomberg News sources; it is not clear how the fund has performed since May 6. Oil has bounced back somewhat, rising about 2.5% last week.
BlueGold had been up 16.6% through April.
The collapse comes little more than a year after the US$2.3 billion firm was forced to deny liquidation rumors after losing 11% during 2010’s first few weeks. The fund remained in the red until December, when it soared 23% to ensure a 13% return on the year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.