Wednesday, 6 May 2015
Last updated 16 hours ago
May 1 2013 | 12:59am ET
A pair of prominent commodity hedge funds have turned things around in April.
Aisling Analytics' Merchant Commodity Fund and Clive Capital are up 12% and 5.2% through April 19, Reuters reports. Both funds posted big losses over the past two years, and paid for it in the form of massive redemptions. Merchant, which lost 29.9% in 2011 and 7.6% last year, saw its assets under management drop almost 90% to US$170 million, and Clive, which lost 8.8% last year and 9.9% in 2011, saw its assets shrink by 46% to US$1.95 billion.
The two hedge funds profited on bearish commodities bets, enjoying positive returns while the volatile commodities market sent some peers into the red. All of Clive's returns have come in April, during which time the hedge fund is up almost 8%. Merchant is up almost 7% over the same period.
Other prominent commodities funds are not doing so well. Armajaro Asset Management's Commodities Fund is up 4% through April 19. Brevan Howard Asset Management's Commodities Fund is down 2.3%, Krom River Trading is down 1.9% and Higgs Capital is down more than 2%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…