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Opalesque Exclusive: Commodity fund Krom River up 14.77% in February, YTD +24.28% In February 2008 the London-based Krom River Commodity Fund was up 14.77%. The best performers were Grains, Softs, Energy and Precious Metals with only a slight negative performance provided by Livestock. Volatility was the big winner benefitting from Directional Gamma and Vega with directional positions also considerably helping the overall performance. The return achieved is regarded by the manager as a “Fat Tail” where many themes profited simultaneously and were allowed to run. The manager is still pleased with the spread of returns in most sectors and strategies. Wheat was the leading winner for February marginally ahead of Crude Oil, Aluminium and Cotton. Sugar positions were reduced to negligible and did not impact returns while directional positions in Coffee and Cocoa were replaced with long Volatility positions. AUM went up from $170m to $220m.

Mike Cartier has just joined Krom River as the new COO. Corporate website: Source

Opalesque Exclusive: India equity long-short fund not doing well so far this year The Agra India Fund fell 3.25% in February 2008 versus –0.72% for the BSE 500, -0.4% for the Large cap SENSEX, +1.7% for the NIFTY, -1.1% for the BSE Mid caps and -4.9% for the BSE Small cap indexes. The market fluctuated wildly during the month, the NIFTY index trading in a broad range (approx 14%) peak......................

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