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Opalesque Exclusive: Potomac Select posts 21.06% estimated return for first half of 2008
Potomac Select LLC posted a 21.06% estimated return for the first half of 2008, exceeding the Fund’s annual return objective of 17-20% in the first six months of the year according to the Fund’s operating manager. Potomac Portfolios launched the Potomac Select Fund in July 2006 to access alpha-oriented commodity trading advisors and forex managers trading currencies, interest rates, stock indices, agricultural and energy products, and precious and base metals.
“Potomac doubled expectations at mid-year based upon a sharp rise in market volatility and pricing of commodity interests, especially for agricultural and energy products,” said Thomas Lott, Potomac’s President. “High demand for commodities, coupled with lower potential supply, a depreciating US dollar, and speculative demand by investors have been core drivers for Potomac ever since last summer when the credit crunch took hold,” said Lott. “Looking ahead,” he continued, “we expect that the uncertainty and market volatility experienced in the first half of 2008 will continue in the second-half of the year should commodity-driven inflation and the credit-induced downturn continue to take their toll on global growth and equities, and on developing economies and their currencies in due course.”
According to Lott, Potomac Select traded 90 instruments long and short in the first half of 2008, across a broad range...................... To view our full article Click here
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