Saturday, 25 October 2014
Last updated 19 hours ago
Jul 8 2011 | 1:12pm ET
May and June provided a one-two punch to some of the world's top commodities hedge funds, leaving many reeling with double-digit first-half losses.
BlueGold Capital Management, Clive Capital and Touradji Capital Management all suffered a second-straight brutal month in June. While for most of the funds June was not as catastrophic as May, last month's swoon has many of them in a deep hole.
Last month's biggest loser is also one of the few that suffered a worse June than May: Clive, which fell 8% last month, Reuters reports. Combined with its 6% May decline, the US$4 billion London-based fund is down about 10% on the year.
At neighboring BlueGold, June was not as grim, but the first half was even grimmer. The firm fell 5% last month, a marked improvement on its 12.5% drop in May. But the fund remains down almost 12% on the year.
Fortress Investment Group's Commodities Fund also suffered a second-straight losing month, dropping 4.86% in June.
Two other top commodities hedge funds were anything but last month. Ospraie Management, which rose from the dead last summer, lost 3.1% in June. And Touradji Capital Management's $2.5 billion flagship followed its 5% May drop with the loss of another 3% in June.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.