Mulvaney Gains On Energy, Ag. Rallies

Jul 11 2008 | 11:29am ET

Mulvaney Capital Management continued its winning ways in June, gaining 8.5% to bring its year-to-date returns to 50.78%.

The firm’s $120 million fund benefited from June’s natural gas rally and ongoing concerns over supplies, while continued threats to Nigerian output and increased tensions in the Middle East drove oil prices to new record levels, according to Paul Mulvaney, chief investment officer.

“The most significant contributor to this month’s P&L was our position in cocoa, which rallied on concerns over crop quality out of the Ivory Coast and Indonesia; these gains were partially offset by losses in sugar and orange juice,” he said.

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