Sunday, 29 November 2015
Last updated 1 day ago
Apr 18 2008 | 2:00am ET
After two months of stratospheric returns, Mulvaney Capital Management’s winning streak ended in March. The Global Diversified Fund lost 7.96% on the month, but the $114 million fund remains up 44.28% year-to-date.
The fund’s retreat was a result of a weakening U.S. economy and global growth concerns prompting a broad-based correction in commodities, according to Paul Mulvaney, chief investment officer, in a letter to investors.
“The most impacted sectors were agricultural commodities and metals,” he wrote. “We suffered our most significant losses in soybean oil, coffee and cocoa, partially offset by our short positions in livestock.”
Mulvaney added that foreign exchange, interest rate and stock-index trading “continued to make scant contributions to the month’s profit and loss.”
The fund lost 23.14% last year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…