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Opalesque Exclusive: Mulvaney fund suffers 16.89% loss in July The Global Markets Fund retreated 16.89% in July, its biggest single month loss since inception. Financial markets moved sharply in lockstep against the portfolio as fears of a global credit crisis mounted and investors fled risky assets. On this occasion we suffered rather than benefited from commodity diversification as the agricultural and livestock markets also moved adversely.

The Mulvaney Capital Management Global Diversified Program is a long term systematic trend following program, covering all the major financial and commodity futures markets worldwide.

The fund, which runs $169m as of end of July, is down -18.62% YTD. In 2006, the program returned 21.94% and 32.34% in 2005.

SocGen`s Lyxor says yesterday`s rumours of fund losses totally unfounded From Thomson Financial/Forbes.com: Lyxor Asset Management, a unit of Societe Generale, said market rumours that circulated yesterday concerning its funds are 'totally unfounded'. There was speculation yesterday afternoon that Lyxor would make an announcement after the market close about losses at its funds. The talk helped push down Societe Generale shares, which closed 4.59 pct lower at 119.00. Full article: Source

More from HedgeWorld.com: Lyxor denies subprime rumors, SocGen still sinks ......................

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