BlueGold, Clive Not Fueled By Oil Jump

Mar 16 2012 | 8:01am ET

BlueGold Capital Management and Clive Capital appear to be skeptical about the early-year rally in oil prices—to their detriment, so far.

While oil is up 6% in the U.S. and 15% in London, where BlueGold and Clive are based, and while the average energy hedge fund is up about 8% through the first two months of the year, the two well-known oil-trading hedge funds have fizzled. Clive is up only 3% on the year, and BlueGold is down about 2%.

"They haven't exactly told their investors or anyone for that matter that they don't believe the way this market has been going," one source, who receives performance updates from the two hedge funds, told Reuters. "But their lack of bullish exposure indicates that they are ready to pounce the other way the moment prices turn, if they're not already shorting the market, that is."

Clive returned 4% in February after losing 1% in January. The firm manages about US$4 billion. BlueGold, for its part, lost 1.5% in January and 0.5% in February. It has more than US$1 billion in assets.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of