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

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.