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Shock as commodities hedge fund performs reasonably well

Posted on 29 July 2014 by VRS  |  Email |Print

Commodities hedge funds have not being doing well lately. Clive Capital shut its doors last year, so did Higgs Capital, Arbalet Capital and Schroders’ Opus commodities fund. Armajaro Asset Management, the coffee and chocolate specialist hedge fund, has not been without its problems – it biggest fund lost nearly 25% of assets in the first quarter – but it’s actually done surprisingly well.
In accounts posted on Companies House last week, Armajaro Asset Management LLP made a profit of $6.7m for the 12 months to September 2013 in what it describes as “difficult conditions”, compared to $7.9m in 12 months previously. At the end of the period its assets under management were $1.5bn………………………………………..Full Article: Source

Hedge funds slash Brent oil bets by 25 pct during price rout -ICE

Posted on 22 July 2014 by VRS  |  Email |Print

Hedge funds and other large speculators slashed their bets on higher Brent crude oil prices by almost 25 percent in the week to July 15, ICE said on Monday, as prices collapsed to their lowest in three months.
The IntercontinentalExchange Inc. said money managers reduced their net long futures and options positions in Brent to 151,981 from 201,568 as prices fell to a three-month low of $104.39, down from more than $115 a barrel in mid-June………………………………………..Full Article: Source

Gold gains set to reverse as hedge funds cut bets on rally

Posted on 22 July 2014 by VRS  |  Email |Print

Money managers trim net-long positions as gold price rally snaps, but investors are still adding to holdings through ETPs backed by metal. Hedge funds cut bets on a gold rally for the first time in six weeks as prices snapped the longest stretch of gains since August 2011.
Money managers trimmed their net-long position by 8.5 per cent in the week to July 15, US government data showed. Prices dropped 2 per cent last week, the first loss since May and helping to erase US$1.38 billion from the value of exchange-traded products (ETPs) backed by the metal………………………………………..Full Article: Source

Hedge Funds Cut Bullish Gold Wagers as Rally Snaps: Commodities

Posted on 21 July 2014 by VRS  |  Email |Print

Hedge funds cut bets on a gold rally for the first time in six weeks as prices snapped the longest stretch of gains since August 2011. Money managers trimmed their net-long position by 8.5 percent in the week through July 15, U.S. government data show. Prices dropped 2 percent last week, the first loss since May and helping to erase $1.38 billion from the value of exchange-traded products backed by the metal.
Gold climbed 9 percent this year, outpacing gains for commodities, equities and Treasuries, partly as tensions between Ukraine and Russia increased demand for a haven. The gains are set to reverse as the economy improves and the Federal Reserve “eventually” increases U.S. interest rates, the World Bank said in a report July 17………………………………………..Full Article: Source

ETFs to Surpass Hedge Fund Assets by 2015

Posted on 16 July 2014 by VRS  |  Email |Print

ThinkAdvisor’s big annual ETF event will cover everything from smart beta to finding winning global ETFs and everything in between. The summer is typically quiet time for Wall Street, but not in the fast-moving ETF marketplace.
Never mind that a Winklevoss Bitcoin ETF is on the verge of being launched, the adoption rate of ETFs among financial advisors is through the roof. “We predict annual growth rates of 15%-30% around the globe over the next five years and believe the ETF industry could surpass the hedge fund industry in assets under management during the next 12–18 months,” said EY in its 2014 ETF Global Survey………………………………………..Full Article: Source

Rallies in energy, metals boost commodity funds in Q2-Lipper

Posted on 11 July 2014 by VRS  |  Email |Print

Commodity funds delivered robust returns in the second quarter, consolidating their recovery since the start of the year, with rallies in energy and metals boosting the top performers in the Lipper Global Commodity group.
Leading commodity fund managers say base metals should continue to perform well in the second half of 2014, with investor sentiment towards China improving, but the upside for oil is seen as more limited. Commodities have put in a solid performance so far this year, although returns eased a little in the second quarter………………………………………..Full Article: Source

Oil Hedging Seen in Decline as Banks Exit Commodities

Posted on 11 July 2014 by VRS  |  Email |Print

Oil-price hedging by producers and consumers is declining as a result of stricter of regulation that’s caused banks to exit commodities markets, according to Threadneedle Asset Management Ltd.
Trading of futures for delivery later this decade has diminished as some banks either leave commodities altogether or curb trading, Nicolas Robin, a fund manager at Threadneedle, said at a presentation in London yesterday. Increased regulatory oversight has caused a slump in energy trading on exchanges, Platts, a company publishing prices for commodities including oil, said the day before………………………………………..Full Article: Source

Now China’s metal funds turn their attention to zinc market

Posted on 10 July 2014 by VRS  |  Email |Print

Hedge funds in China have turned their attention to the zinc market, where open interest on the Shanghai Futures Exchange, for example, has risen steeply over the past month, sources said.
On June 11, zinc open interest on SHFE rose by 38% from the previous day and on July 8, another 68,308 lots were added, taking total open interest to 412,360 lots in total. The same day, the LME three-month zinc price recorded a fresh three-year high of $2,318.50 per tonne. The raised interest in the SHFE’s zinc contract stems largely from the interest of China’s commodity funds, which are emerging as important participants in the metal markets, well-informed sources said………………………………………..Full Article: Source

Gold bulls deeply suspicious of hedging

Posted on 09 July 2014 by VRS  |  Email |Print

To hedge, or not to hedge? It’s a question the gold industry has grappled with for decades and goes right to the heart of the question about why investors buy gold shares – to gain exposure to a rising gold price or invest in the exploration and development skills of miners.
Julian Baring, the UK fund manager dubbed the “Gold Guru”, once reportedly said he did not like hedging because behind every hedge there was invariably a ditch and these are usually wet and miserable places……………………………………Full Article: Source

Hard-Hit Macro Hedge Funds Stage Nascent Turnaround

Posted on 08 July 2014 by VRS  |  Email |Print

Global macro hedge funds are showing signs of life after weathering a difficult period. These funds, which bet on movements in instruments as diverse as bonds, equities, currencies and commodities, are famous for large returns and big directional trades by the likes of billionaire George Soros. In recent years, the funds’ returns have been hurt by the difficulty of predicting the moves of politicians and lawmakers.
The early signs this year weren’t especially encouraging. Bets that the dollar would continue its rise against the yen and that U.S. Treasury yields would move higher—both trades that worked last year—proved wrong……………………………………..Full Article: Source

Raw-Material Resurgence Following Record Exit From Funds

Posted on 02 July 2014 by VRS  |  Email |Print

Investors are being lured back to commodities after war and drought helped make raw materials the surprise best-performing major asset class in the first half.
About $5.9 billion was added to raw materials investments this year, compared with a record $50 billion withdrawn in 2013, Citigroup Inc. estimates. Assets under management of about $360 billion at the end of last year rose to $365 billion through May and probably increased again in June, the bank said……………………………………….Full Article: Source

Hedge funds sweeter on ag prices, led by sugar

Posted on 01 July 2014 by VRS  |  Email |Print

Hedge funds ended a run of bearish positioning on agricultural commodities as a massive switch in sugar exposure, towards bets on price rises, trumped further downbeat holding on grains.
Managed money, a proxy for speculators, raised its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by approaching 55,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Everybody Loves Hedge Funds, Assets Hit Record $3 Trillion

Posted on 26 June 2014 by VRS  |  Email |Print

Love ‘em or hate ‘em, the world of hedge funds is only getting bigger. The industry saw assets surpass $3 trillion in May for the first time ever. That’s according to hedge fund database, eVestment, which notes the new record exceeds the asset peak from 2008.
It’s been a particularly strong year for hedge funds. In May alone, $22 billion of new capital was added bringing year-to-date flows to $93.3 billion. That’s the strongest start to a year since 2007………………………………………..Full Article: Source

Commodity hedge funds out of favor, launches head for 8-year low

Posted on 25 June 2014 by VRS  |  Email |Print

Commodity fund launches have slowed dramatically, heading for an eight-year low, data from industry tracker Preqin showed, after years of weak returns and some high-profile fund failures in the commodities sector.
In the year through May, some 34 commodity funds were launched, the fewest since the first half of 2006. Last year, there were 89 commodity funds launched worldwide in the first half, Preqin’s data showed………………………………………..Full Article: Source

Which commodity funds fared best in the slump?

Posted on 23 June 2014 by VRS  |  Email |Print

The combination of fundamental underlying demand, low valuations, relatively high yields and a renewed management focus on shareholder returns is poised to send commodity shares surging. That claim could have been made at just about any point over the past two years, as indeed it has been repeatedly. But if the sector is primed for a bull run, investors may as well own anything – active or passive.
The prolonged bear phase has revealed those managers who have been able not only to protect but actually to add value during the slump………………………………………..Full Article: Source

Hedge funds hike bearish bets on ags - boosting price hopes

Posted on 17 June 2014 by VRS  |  Email |Print

Hedge funds accelerated bearish positioning on agricultural commodities to the fastest pace in nearly a year as hopes rose for grain, sugar and cotton supplies – with the extent of the selldown potentially setting the scene for greater price stability.
Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cocoa to lean hogs, by more than 126,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Hedge Funds Cut Crop Wagers the Most Since January: Commodities

Posted on 16 June 2014 by VRS  |  Email |Print

Hedge funds cut wagers on rising agricultural prices at the fastest pace since January before the U.S. government predicted rising supplies of everything from wheat to rice. Money managers are now holding the smallest wager on farm goods including cotton and soybeans in almost four months.
The Standard & Poor’s Agricultural Spot Index fell for a seventh week, the longest streak since 2001. Global wheat stockpiles will reach a three-year high before the 2015 harvest, and corn reserves are poised to be the biggest since 2000, U.S. Department of Agriculture data showed June 11………………………………………..Full Article: Source

Copper bets cut most in a month

Posted on 10 June 2014 by VRS  |  Email |Print

Hedge funds cut bullish copper bets by the most in a month on concern that a supply surplus will return as demand growth slackens in Europe and China.
Money managers trimmed their net-long position by 24% to a four-week low. A probe into inventories in China spurred speculation that imports by the biggest consuming nation will drop, while the European Central Bank took unprecedented steps to combat deflation. Barclays Plc anticipates that global supply will outpace demand from the fourth quarter………………………………………..Full Article: Source

Fund Managers Cut Overall Exposure To Precious Metals, Go Short Silver

Posted on 10 June 2014 by VRS  |  Email |Print

Another price drop for most precious metals encouraged large speculators to continue reducing their net-long positions across the board in precious metals futures and options positions on the Comex division of the New York Mercantile Exchange and Nymex.
Fund managers cut bullish exposure to gold and the platinum group metals in disaggregated and legacy weekly commitments of traders report from the Commodity Futures Trading Commission, while turning net-short silver for both reports. In copper they cut bullish positions in the disaggregated report and added to bearish trades in the legacy report. The data is as of June 3………………………………………..Full Article: Source

Hedge Funds Buy Oil as Supply Drops Before Memorial Day

Posted on 09 June 2014 by VRS  |  Email |Print

Speculators cut bullish bets on U.S. crude oil from a record as inventories were close to a seasonal high following the Memorial Day weekend.
Hedge funds reduced net-long positions in benchmark West Texas Intermediate by 1.5 percent in the week ended June 3, the U.S. Commodity Futures Trading Commission said. Long positions slid 1.1 percent and shorts jumped 5.3 percent………………………………………..Full Article: Source

Have commodities funds finally turned the corner?

Posted on 06 June 2014 by VRS  |  Email |Print

The outlook for natural resources funds is at its most positive for many years, according to Investec’s Bradley George, but he warns more confidence is needed for the sector to rally in a meaningful way.
Following a period of very poor returns, commodity-focused funds have rebounded significantly since the start of the year. George, manager of the £150m Investec Enhanced Natural Resources fund, says he is far more bullish than he was this time 12 months ago as he thinks the trend should continue………………………………………..Full Article: Source

Schroders’ commodity hedge fund to shut

Posted on 04 June 2014 by VRS  |  Email |Print

A prominent backer of commodities hedge funds is shutting down after investors frustrated by market doldrums and high management fees took their money elsewhere.
Schroders’ Opus commodities fund, which contained $2.3bn at its peak, is closing after assets dwindled to hundreds of millions of dollars, according to people familiar with the matter. David Mooney and Cédric Bellanger, co-portfolio managers, will leave London-based Schroders………………………………………..Full Article: Source

Fund Managers’ Net Bullish Gold Position Smallest Since Late January - CFTC Data

Posted on 03 June 2014 by VRS  |  Email |Print

A sharp price drop prompted large speculators to cut their net-long positions in gold futures and options on the Comex division of the New York Mercantile Exchange to the smallest levels since late January.
These fund managers had been winnowing down their bullish holdings for most of May, as seen in the weekly commitments of traders report from the Commodity Futures Trading Commission, but the latest data shows large speculators are seeking to lift their gross short positions. The data is as of May 27………………………………………..Full Article: Source

Funds Cut Bullish Gold Wagers Most This Year: Commodities

Posted on 02 June 2014 by VRS  |  Email |Print

Hedge funds pared bets on a gold rally at the fastest pace this year after prices capped the biggest monthly decline since December.
Money managers trimmed their net-long position by 24 percent as a rally in U.S. equities to a record eroded the appeal of alternative assets. Short holdings are now the highest in 15 weeks and assets in exchange-traded products backed by metal the lowest since 2009…………………………………….Full Article: Source

Hedge Funds Buy Oil as Supply Drops Before Memorial Day: Energy

Posted on 26 May 2014 by VRS  |  Email |Print

U.S. crude inventories declining from a record before the Memorial Day weekend spurred speculators to increase bullish bets on oil for a second week. Hedge funds raised their net-long position in benchmark West Texas Intermediate futures by 4.1 percent in the week ended May 20, U.S. Commodity Futures Trading Commission data show. Prices climbed to a one-month high.
Crude supplies fell the most in four months in the week ended May 16, the U.S. Energy Information Administration said………………………………………..Full Article: Source

Hedge Funds Cut Gold Bull Bets Most in Month

Posted on 19 May 2014 by VRS  |  Email |Print

Hedge funds cut bullish bets on gold futures by the most in a month as holdings of physical bullion in exchange-traded funds dropped to the lowest since 2009.
Money managers’ net-long position contracted for the second time in three weeks in the five trading sessions ended May 13. The drop in bullion held through global ETPs extended into a ninth week, with about $6.9 billion of value erased…………………………………….Full Article: Source

Fund Managers Return To Buy Gold - CFTC Data

Posted on 13 May 2014 by VRS  |  Email |Print

Large speculators returned as buyers in gold futures and options positions on the Comex division of the New York Mercantile Exchange in the latest weekly commitments of traders report from the Commodity Futures Trading Commission, following mixed action by these traders in the previous report.
These fund managers narrowed their bullish positions in silver in the current CFTC reports, which are as of May 6. In the previous reports, large speculators were divided in their silver-market activity………………………………………..Full Article: Source

Hedge Funds Cut Gasoline Bets 14% on Supply Gain: Energy

Posted on 12 May 2014 by VRS  |  Email |Print

The expansion in stockpiles of U.S. gasoline as refineries returned from maintenance and imports accelerated spurred speculators to cut wagers on rising prices by the most in more than three months.
Money managers reduced net-long positions by 14 percent from the highest level since February 2013 in the week ended May 6, U.S. Commodity Futures Trading Commission data show. Long positions fell 11 percent, the first drop in four weeks, and short positions rose 6.1 percent………………………………………..Full Article: Source

Diversify Your Portfolio With Commodity Funds

Posted on 12 May 2014 by VRS  |  Email |Print

Commodity funds provide good diversification with respect to the stock market. Over the past 5 years, the performances of commodity funds have significantly lagged the S&P 500. The funds UCI, RJI, and USCI have performed well in comparison to peers.
Commodities are “real assets” that run the gamut from oil and precious metals to agriculture. Whether or not this volatile asset class deserves a place in a conservative portfolio is a matter of debate but many financial planners recommend from 3% to 10%, depending on your investment objectives, time horizons, and risk profile……………………………………….Full Article: Source

Commodity funds down in first quarter, even as energy markets rally

Posted on 08 May 2014 by VRS  |  Email |Print

Two-thirds of commodity hedge funds lost money in the first quarter, extending last year’s dismal run, possibly because they bet against higher crop and energy prices in a rallying market, data from futures broker Newedge and banker HSBC showed on Wednesday.
Of some 120 commodity-focused funds in the United States and Europe that either trade on discretion or follow trends, about 70 finished lower in the three months through March, despite a run-up in the corn, wheat, soybean, arabica coffee, lean hog and natural gas markets, the data showed………………………………………..Full Article: Source

Hedge funds miss the mark betting on rising grains

Posted on 06 May 2014 by VRS  |  Email |Print

The concerns over weather setbacks to US winter wheat, and to spring corn sowings, drove hedge funds to take a more bullish position on agricultural commodities, although sentiment on cocoa declinesd sharply.
Managed money, a proxy for speculators, raised its net long position in futures and options in the top 13 US-traded agricultural commodities, from coffee to lean hogs, by more than 56,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

You’ve got to hedge your bets

Posted on 30 April 2014 by VRS  |  Email |Print

In the last six years there has been a very major secular shift—from which we are all suffering. We, the World Gold Council, the association of large mining companies, felt we had to increase the use of gold by securitising gold. So we introduced to the global securities markets the ability to buy gold as a trading stock called ETF, exchange-traded fund. That was previously unheard of.
Before ETFs, if you wanted to buy gold, you went to a bank and bought gold coins or a gold bar. But if you were an insurance company, and say your assets were $100 billion and you had to invest 5% of your assets in gold, you had to buy gold shares………………………………………..Full Article: Source

Hedge funds wrong-footed by grain price recovery

Posted on 29 April 2014 by VRS  |  Email |Print

Hedge funds appear to have been wrong-footed by the rebound in US grain and soybean prices last week on weather and Ukraine fears, cutting their bullish bets on corn and wheat in the run-up to the recovery.
Managed money, a proxy for speculators, cut its net long in future and options in the top 13 US-traded agricultural commodities by more than 40,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Misery continues for trend-following hedge funds

Posted on 28 April 2014 by VRS  |  Email |Print

Trend-following hedge funds have suffered further outflows amid weak investment performance, raising questions about their survival.
Commodity trading advisers, hedge funds that tend to follow trends in markets using computers to place bets, suffered their 10th consecutive month of net outflows in March, according to Eurekahedge, the data provider………………………………………..Full Article: Source

Three funds to cash in on a rally in commodities

Posted on 25 April 2014 by VRS  |  Email |Print

The outlook for commodities is the best it’s been for a decade, according to Hermes Fund Managers, joining a long line of experts expecting more for the asset class in the coming years.
Old Mutual’s Richard Buxton and FE Alpha Manager Barry Norris are among the fund managers who have been increasing their exposure to commodities-related stocks in recent months. Many believe the pessimism towards Chinese demand has been overdone, and expect a sector-shift out of more expensive areas such as consumer staples and healthcare as a result………………………………………..Full Article: Source

“Enormous potential” for agriculture funds

Posted on 23 April 2014 by VRS  |  Email |Print

Buy land, said Mark Twain, they ain’t making it any more. He also observed that one of the secrets of success in life is to eat what you like and let the food fight it out inside. Taken together, these two aphorisms go a long way to explaining the appeal of investment in agriculture.
The world may not be making any more land but it’s certainly making more people, and increasingly many millions of those extra mouths are consuming what they like - and that means protein-rich meat diets of the kind the advanced economies have been enjoying for years………………………………………..Full Article: Source

Hedge funds cut gold bets in longest slide of 2014

Posted on 22 April 2014 by VRS  |  Email |Print

Hedge funds lowered bullish bets on gold for a fourth week, the longest streak this year. The net-long position contracted to the lowest since mid-February as speculators sold bullion on signs of accelerating U.S. economic growth. The investors more than doubled bets on lower prices in the past month while reducing wagers on a rally in six of the past seven weeks.
Prices fell 7.5 percent since reaching a six-month high in March after tension in Ukraine eased and U.S. equities rallied to a record. The number of Americans filing for unemployment insurance payments held last week near the lowest level in almost seven years and retail sales in March increased more than economists forecast………………………………………..Full Article: Source

Influence of banks, hedge funds on commodities lowest since 2008

Posted on 17 April 2014 by VRS  |  Email |Print

United Nations economists who previously called for government intervention to tame volatile swings in commodity prices say banks and hedge funds have since reduced their influence to the lowest level since 2008.
In a 2012 report for the UN Conference on Trade and Development (UNCTAD), David Bicchetti and Nicolas Maystre said the rise of financial players in commodities markets over the previous decade had moved prices of oil and grains away from the fundamentals of supply and demand………………………………………..Full Article: Source

Armajaro commodities fund assets fall almost 25 pct in first quarter

Posted on 17 April 2014 by VRS  |  Email |Print

London-based Armajaro Asset Management lost nearly a quarter of assets at its largest commodities fund in the first quarter, the latest sign that edgy investors have continued to withdraw cash from the sector after weak returns, documents show.
Assets under management at Armajaro Commodities Fund (ACF), the biggest of the group’s six hedge funds and one of three dedicated to commodities, fell to $686 million by end-March from $904 million at end-December, documents obtained by Reuters on the fund showed on Wednesday………………………………………..Full Article: Source

Hedge funds end ‘record’ ag commodity buying spree

Posted on 15 April 2014 by VRS  |  Email |Print

Hedge funds’ longest run of bullish positioning by agricultural commodities in recent history ended as investors took profits on gains, as well as placing more bets on falling prices. Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by nearly 38,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator.
The decline reflected the first week-on-week drop in the net long position – the extent to which long holdings, which profit when prices rise, exceed short positions, which benefit when values fall – since January………………………………………..Full Article: Source

Commodity funds bounce in Q1 after 2013 losses

Posted on 11 April 2014 by VRS  |  Email |Print

Commodity funds bounced in the first quarter from a 2013 loss, with the top performers in the Lipper Global Commodity group racking up double-digit returns after rallies in agriculture, natural gas and nickel.
Supply disruptions provided opportunities across the asset class, but fund managers said only a few of these bullish fundamentals would persist into the second quarter and that some commodities are now over-valued………………………………………..Full Article: Source

Hedge funds and other speculators misjudged gold prices for a second time in three weeks

Posted on 09 April 2014 by VRS  |  Email |Print

Hedge funds and other speculators misjudged gold prices for a second time in three weeks. Just after the investors sold bullion holdings for a second consecutive week, a disappointing U.S. jobs report sparked the biggest rally in prices since mid-March. Their funds fared better in the five preceding weeks, correctly adjusting wagers 80 percent of the time.
Investors who were anticipating gold’s 2014 rebound would fizzle had reason to be confident at the start of last week. As U.S. equities surged to a record, bullion slid to a seven-week low on April 1 as fewer traders saw the appeal of the haven asset………………………………………..Full Article: Source

5 commodity mutual funds to watch in 2014

Posted on 09 April 2014 by VRS  |  Email |Print

The S&P 500 scored gains of just 1.3% in first-quarter 2014. In comparison, the Thomson Reuters/Core Commodity CRB Index ended the first quarter with gains of 8.7%. This marked the 19-commodity index’ best performance since Sep 2012, as commodities turned out to be among the best investment options in the quarter. Commodities were reported to have secured the best gains among all asset classes since 2012.
The gains have come through a period when Chinese economic data have mostly been dismal, the Federal Reserve kept alive the trend of reducing its bond buyback program and the Russia-Ukraine crisis added to the volatility………………………………………..Full Article: Source

Hedge funds’ bullish spree on ags tests ‘record’

Posted on 08 April 2014 by VRS  |  Email |Print

Hedge funds’ raised the stakes in their bets on agricultural commodity prices for a ninth successive week, one the longest sprees on record, as a US corn planting hopes added to concerns over weather setbacks to a number of crops.
Managed money, a proxy for speculators, raised its net long in future and options in the top 13 US-traded agricultural commodities by more than 49,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator………………………………………..Full Article: Source

Speculators mistime bearish gold bets before rally: Commodities

Posted on 07 April 2014 by VRS  |  Email |Print

Hedge funds and other speculators misjudged gold prices for a second time in three weeks. Just after the investors sold bullion holdings for a second consecutive week, a disappointing U.S. jobs report sparked the biggest rally in prices since mid-March. Their funds fared better in the five preceding weeks, correctly adjusting wagers 80 percent of the time.
Investors who were anticipating gold’s 2014 rebound would fizzle had reason to be confident at the start of last week. As U.S. equities surged to a record, bullion slid to a seven-week low on April 1 as fewer traders saw the appeal of the haven asset………………………………………..Full Article: Source

Hedge funds get gold timing wrong on rebound: Commodities

Posted on 07 April 2014 by VRS  |  Email |Print

Hedge funds and other speculators misjudged gold prices for a second time in three weeks. Just after the investors sold bullion holdings for a second consecutive week, a disappointing U.S. jobs report sparked the biggest rally in prices since mid-March.
Their funds fared better in the five preceding weeks, correctly adjusting wagers 80 percent of the time. Investors who were anticipating gold’s 2014 rebound would fizzle had reason to be confident at the start of last week. As U.S. equities surged to a record, bullion slid to a seven-week low on April 1 as fewer traders saw the appeal of the haven asset………………………………………..Full Article: Source

Carlyle’s commodity arm starts trading new gold and base metals fund

Posted on 21 March 2014 by VRS  |  Email |Print

Vermillion, the commodity arm of U.S. private equity group Carlyle Group LP, started trading a new gold and base metals fund this month as it seeks to rebuild market presence after losing more than half of its capital, people familiar with the matter said on Thursday.
In a regulatory filing dated Feb. 14, Vermillion’s chief operating officer, Christopher Zuech, said the Aeris Metals Fund had raised $122.5 million from 23 investors in total. The filing did not state the launch date………………………………………..Full Article: Source

Hedge funds most bullish on ags in three years

Posted on 18 March 2014 by VRS  |  Email |Print

Hedge funds turned their most bullish on agricultural commodities for three years, as they flocked to bet on higher grain prices amid the mounting tensions over Ukraine, and raised the stakes on the sugar rally too.
Managed money, a proxy for speculators, raised its net long position in futures and options in the top 13 US-traded agricultural commodities, by more than 133,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator………………………………………..Full Article: Source

Carlyle commodity fund Vermillion’s assets halved to below $1 bln

Posted on 07 March 2014 by VRS  |  Email |Print

U.S. private equity group Carlyle said assets at its commodities hedge fund Vermillion fell by more than half in the nine months to December, suggesting investor redemptions at the fund after some negative returns.
New York-based Vermillion Asset Management was managing about $2 billion in March 2013 but that fell to around $900 million by December, Carlyle said in regulatory filings to the U.S. Securities Exchange and Commission………………………………………..Full Article: Source

The world is the savvy investor’s oyster

Posted on 05 March 2014 by VRS  |  Email |Print

International core equity funds offer good options for both passive and active fund investors: Funds focused on developed Europe offer attractive relative value with U.S.-type growth opportunities, while Asia Pacific–focused funds potentially benefit from recent volatility.
Emerging markets funds demand greater selectivity, and emerging markets debt funds are in for another volatile year. Commodity funds, meanwhile, remain lackluster despite gold achieving some price stability………………………………………..Full Article: Source

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