As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 16 hours ago
Jan 11 2013 | 1:21pm ET
Another energy hedge fund is closing its doors as its founder calls it quits.
Andrew Rowe said today that he's closing his SandRidge Capital and retiring. Most of the fund's US$320 million in assets will be returned by the end of the first quarter, Reuters reports.
Rowe said he planned to "sit back and hang out with my kids and play golf."
"Life is good," he said.
The Houston-based hedge fund returned 11% last year.
Rowe's exit comes after a difficult year for commodity hedge funds—although not his. Last year also saw the closure of several prominent energy and commodity funds, including SandRidge's fellow Texan Centaurus Capital, BlueGold Capital and Fortress Investment Group's commodity fund.