BlueGold, Merchant Commodities Pummeled In August

Sep 9 2011 | 1:41pm ET

August's hedge fund rout did not spare some of the biggest commodity specialists.

BlueGold Capital Management's flagship plummeted 12% last month, nearly doubling its year-to-date loss. The US$2.3 billion fund is now down 25% on the year, Bloomberg News reports.

Things are even worse for Aisling Analytics' Merchant Commodity Fund, which is down 32% in 2011 after shedding 3.9% last month. The US$1.1 billion fund launched last year.

Clive Capital does not find itself in quite such dire straights. Still, its eponymous US$4.8 billion flagship is down 11% this year. It lost 0.2% last month.

Not all commodity hedge funds are in such a jam. Duet Group's US$100 million Commodity Fund is up 33% this year, adding 1.65% in August. Krom River Trading's Commodity Fund, which manages US$820 million rose 1.9% last month. And Fortress Investment Group's Commodities Offshore fund posted a big August to drag it out of the red for the year.

Fortress Commodities jumped 6% last month. It is now up 1.8% year-to-date.

Despite the strong August, fund manager William Callanan said he remains worried.

"We are quite concerned about the economic contraction that may unfold, and as a result, we intend to be an active seller of rallies in base metals and energy,” Callanan wrote to investors. “Our core belief in the potential for the gold market is steadfast and this will remain in the foreseeable future.”


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note