Thursday, 25 August 2016
Last updated 10 hours ago
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.