Star Hedgies Hit By Sept. Commodities Sell-Off

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.


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