Mulvaney Capital Bucks The Trend, Gains Over 98% YTD

Dec 22 2008 | 6:36am ET

In a year when many hedge funds and asset management firms are seeing massive losses, one money manager is standing out from the pack.

Mulvaney Capital Management’s Global Diversified Program is on pace to its best year ever. The $120 million quantitative financial and commodity futures fund advanced another 6.97% in November, bringing its year-to-date returns to 98.35%.

According to the firm, the most profitable sector last month was interest rates, as deepening recession fears led to aggressive rate cuts by central banks across the globe.

“Incidentally, this had a positive impact on our forex positions,” the firm said.

Stock index and commodity trading also contributed positively to Mulvaney’s portfolio, as markets, in aggregate, ended the month moderately lower.

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