Tuesday, 24 May 2016
Last updated 8 hours ago
Sep 20 2012 | 11:24am ET
A pair of high-profile commodity hedge funds continued their strong run last month.
Taylor Woods Capital Management, helmed by former Credit Suisse star trader George Taylor, jumped 6.3% last month, Bloomberg News reports. Brevan Howard Capital Management's Commodities Strategies Master Fund didn't do too badly, either, rising 4%.
For Taylor Woods, the rally, on the back of surging oil, gold and grain prices, could not have come at a better time, erasing its year-to-date loss and leaving the fund up 3.3% on the year. Taylor said that he remains bullish on oil, but has cut the fund's positions to hedge against a possible release from U.S. strategic reserves before the presidential election.
"While rumors of a reserve release have persisted since the spring, rising prices, likely additional monetary easing and political considerations make a release over the next four weeks more likely than last quarter," Taylor said.