Brevan, Jamison Commodities Funds Rise In May

Jun 15 2011 | 2:33am ET

Two major commodity hedge funds managed to rise last month, despite a tough environment for hedge funds generally and a brutal oil rout that left many of their peers down by double-digits.

Commodity funds managed by Jamison Capital Partners and Brevan Howard Asset Management, with almost $1 billion in assets under management between them, both finished the bumpy month with their heads above water. The former's $600 million Koppenberg Macro Commodity Fund jumped 5.9% in May, Bloomberg News reports, while the latter was no doubt happy with its more modest 0.5% gain.

Both funds performed well during early May's volatility in the oil markets.

Some smaller commodity funds joined Jamison and Brevan Howard in the black. Duet Group's commodity fund added 3.7%, Portal Capital's Green Energy Fund rose 2.42% and Rosetta Capital Management's $180 million fund returned 1.8%.

Larger commodity hedge funds were not so lucky. BlueGold Capital Management suffered a 23% decline, while Clive Capital fell by 10%. Astenbeck Capital and the Man Group's AHL strategy also suffered.

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