Saturday, 10 October 2015
Last updated 4 hours ago
Sep 8 2011 | 12:26pm ET
With annual returns falling, BlueGold Capital Management's profits have taken a nose-dive.
The London-based commodities hedge fund, which has US$2.3 billion in assets under management, saw its profits fall by two-thirds in 2010. The firm made US$101.2 million in 2009 but only US$33.6 million last year, Financial News reports.
BlueGold's returns have fallen steadily since its launch in 2008. In its first 12 months of trading, the fund returned 210%, and followed that up in 2009 with a 55% return. But last year, BlueGold returned only 13%.
Things don't seem to be getting any better, either: May's oil rout cost the firm 26% in that month's first days, and BlueGold was down almost 12% in the first half of this year.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…