Clive Capital, the young London-based commodities hedge fund, is up more than 20% this year as soaring commodities prices pay off.
The $1.3 billion firm, founded by Chris Levett after he left Moore Capital Management in July, returned 17.6% in the first quarter, Bloomberg News reports. The fund hasn’t slowed down this month: It was up 3.5% through last Friday.
Clive’s strong start to 2007 continues Levett’s run of success in commodities investing. The Moore commodities fund he ran returned 39%, 47% and 31% in 2004, 2005 and 2006, respectively, as well as 11% in the first seven months of last year, before Levett’s departure from Moore.