Tuesday, 23 September 2014
Last updated 1 hour ago
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.”
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.