Millburn Ridgefield’s Flagship Fund Up Double Digits

Nov 28 2007 | 11:41am ET

After suffering double-digit drawdowns in July and August, Greenwich, Conn.-based Millburn Ridgefield Corporation has rebounded nicely within the last two months. The firm’s flagship $870 million Diversified program gained another 6.3% in October bringing its year-to-date gains to 14.51%

Currencies were the most profitable portfolio sector in October, according the firm.  Also profitable were interest rates, stock indices, energy and metals. Agricultural commodities were flat.

“Long positions in currencies of higher interest rate and exporting countries were the most profitable: Australia, Brazil, Canada, Chile, India, Mexico, Turkey, Singapore, Korea, Russia and South Africa,” the firm said. “In the interest rate sector, short positions in Australian bills and three-year notes and a long position in Japanese bonds were profitable.

The firm added that, “stock index futures trading was profitable in October due primarily to long positions in the Hong Kong Hang Seng and China H shares, with additional profits from long positions in Taiwanese, South African and Australian indices and the NASDAQ in the U.S.”

The Diversified program also profited from long positions in Brent and WTI crude oil, heating oil, London gas oil and reformulated gasoline. In the metals sector, long positions in tin and lead and a short position in zinc were profitable but a long position in copper was not. Additional “small” losses in grains and tropical softs were offset by profits from livestock bets.

Millburn Ridgefield is headed by co-CEOs Harvey Beker and George Crapple. The firm managed over $1 billion in managed futures and other alternatives strategies as of the end of April.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

New customer protection rules have landed: Are you ready?

The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.