Clive Assets Plummet As Losses Mount

Jan 11 2013 | 1:20pm ET

Investors are fleeing Clive Capital after the commodities hedge fund suffered its second-straight losing year.

Redemptions and poor performance cut Clive's assets under management by 46% last year, Bloomberg News reports. The fund currently manages just US$1.95 billion, down from US$3.6 billion at the end of 2011.

Clive, founded in 2008, lost 8.8% last year. It fell 11% in 2011.

Most of Clive's asset drop occurred in the third quarter. It entered October with US$2.9 billion.

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