Monday, 24 October 2016
Last updated 3 min ago
Nov 9 2007 | 11:39am ET
Too little, too late? Mulvaney Capital Management is making a push to end the year in positive territory, as its $91 million Global Markets Fund advanced 13.72% in October to cut its year-to-date losses to 22.49%.
The fund made its gains in the precious metals and commodity currencies “with gold surging through its 2006 high to levels not seen since 1980,” according to its latest investor letter. The interest rate sector also contributed to the fund’s gains “with Australian and UK short term rates grinding higher.” In addition, the fund benefited from a drop in hogs prices, but suffered losses in its crops portfolio, specifically coffee and wheat.
The Global Markets Fund is a systematic trend following trading program covering the major financial and commodity futures markets worldwide. It charges a 2% management fee and 20% incentive fee per year with a minimum investment requirement of $100,000.