Vision Capital Sees Global Futures

Nov 14 2008 | 1:00am ET

Utah-based Vision Capital Management recently launched its Global Futures 2x Fund. The fund returned 11.5% in its first month of trading and about 50% last month.

This month, the fund is up about 10% as of Nov. 10, according to principal Dario Michalek. However, the firm’s predecessor Global Futures Fund hasn’t fared as well this year, dropping 25%.

“The original fund had some difficult months in July and August of this year mainly due to the swift reversals across all commodities which we were fully invested in,” he said. “Our new program does a much better job at controlling drawdowns and volatility while maintaining the same level of returns.”

The fund charges 2% for management and 20% for performance.

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