Mulvaney Drops 18% In July

Aug 15 2008 | 7:22am ET

July was not kind to hedge funds, and Mulvaney Capital Management was no exception. The firm’s Global Markets Fund lost 18.78% dropping its year-to-date returns to 22.47%.

“Mounting concerns over global growth led to an abrupt sell-off in energy prices shortly after reaching new record highs,” according to the firm. “The most significant losses were booked in natural gas as a mild U.S. summer and recovering inventories exacerbated the decline. Favorable weather conditions and demand concerns also hurt our positions in cocoa and corn.”

“The interest rate sector added to this month’s losses as falling Australian and U.K. short-term rates had a negative impact on our short positions.”

The Global Markets Fund is a systematic, trend following vehicle that trades the major global financial and commodity futures markets.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...