A sharp sell-off in commodity markets in the past few weeks is wreaking havoc with the track records of some of the biggest-name funds in the sector, many of which now languish near the bottom of the $2 trillion industry's performance tables, Reuters reports..
Funds like Mike Coleman's Merchant Commodity fund and Willem Kooyker's Blenheim Capital sit on hefty double-digit losses for the year after investors worried about global economic growth recently dumped gold, copper and cocoa for less-risky assets.
And Astenbeck, the $2 billion hedge fund founded by famed oil bull Andy Hall, lost around 18 percent of its value in September -- far more than last month's 11 percent drop in Brent crude, the London benchmark used now by most oil investors and traders.
The size of the September hit, on top of losses suffered earlier this year, means many managers who enjoyed bumper profits from the long commodity bull run now face the likelihood of a down year…
Find out more at http://www.reuters.com/article/2011/10/14/uk-commods-hedgies-idUSLNE79D03020111014
No comments:
Post a Comment