Tuesday, 4 August 2015
Last updated 13 hours ago
Dec 3 2008 | 1:19pm ET
The commodities market has proven unfriendly to many hedge funds this year, including the Athamas Capital SICAV-SIF, SCA Hedge Fund. The fund was down 4.3% in October and is down 14.5% year-to-date since inception in June.
The fund, which focuses on both traditional and renewable energies, utilities, environmental services and related commodities, saw its worst losses in alternative energy (down 38%), oil and gas services (down 37%) and mining (down 34%), according to the firm. Even its “defensive” utilities positions dropped 15% over the month.
“Commodity indices like the CRB were also down 23% with constituents like copper down 38% [last] month,” said the firm. “As such the commodity 'super cycle' appears to be broken until the economy recovers.”
May 27 2015 | 2:15pm ET
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