Saturday, 25 October 2014
Last updated 21 hours ago
Oct 14 2011 | 8:23am ET
Some big-name hedge fund managers took a beating in September’s commodities sell-off.
Mike Coleman’s $1.1 billion Singapore-based Merchant Commodity Fund, a fundamentally-driven commodity long-short fund, lost 5.4% in September, someone who saw the performance data told Reuters. Coleman said that left the fund—which added over 30% in 2005, 2006 and 2007—down 36% for the year.
Willem Kooyker’s New Jersey-based Blenheim Capital Management, with an estimated $5 billion AUM, lost 15.5% in September and is down 25% in 2011, a source told th news agency. The fund is a big commodities investor.
Astenbeck, the $2 billion hedge fund Connecticut-based hedge founded by Andy Hall, lost about 18% in September as Brent crude fell 11%. The fund is down over 5% YTD.
And the BlueGold Global Fund was down 0.4% last month to September 16, according to figures seen by Reuters, leaving it down 25% for the year.
As dark economic clouds gathered in September, investors jettisoned their gold, copper and cocoa in favor of less-risky assets. This was reflected in the Reuters-Jefferies CRB index of 19 commodities which was down 13% for the month.
There were some bright spots in September, however, including London-based Clive Capital, a $4 billion hedge fund, which Reuters' sources said added 11.5% thanks to its bearish take on commodities. That puts the fund down 1.4% YTD.
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…
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