Falling Oil Prices Fuel Commodity Hedge Fund Losses in May and June
|July 8th, 2011||
|June 2011 was a rather difficult month for commodity hedge funds that trade oil, metals and agricultural products. Reuters reports that its commodities-focused CRB index dropped 9 percent in May and June combined, the largest two-month drop since the financial crisis in 2008. |
London-based oil trader Pierre Andurand’s $2 billion BlueGold Capital fund was down 5 percent in June and 12 percent year-to-date. London-based Chris Levett’s $4 billion Clive Capital fell 8 percent in June and is down 10 percent year-to-date.
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