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From Precy Dumlao, Opalesque Asia:
Meridian Fund Manager’s two BVI registered hedge funds, the Meridian Global Gold & Resources Fund and the Meridian Global Energy & Resources Fund sustained losses in June and in the first half of this year.
The funds’ investment advisor is U.S. Global Investors, Inc., a San Antonio, Texas-based investment management firm which manages over $2bn in offshore and U.S. based mutual funds, and Meridian Fund Managers Ltd., based in Bermuda, provides investment management services to the two funds.
Meridian Global Gold and Resources Fund
The Meridian Global Gold and Resources Fund Ltd (Class A shares) fell -3.2% in June and -3.68% in the second quarter (and +3.60% YTD). Since its inception in September 2004, the fund has returned 458.62% and its AuM as at end 30-June amounted to $22.64m.
This is compared to the HFRI EH: Energy & Basic Materials Hedge Fund benchmark, which returned -2.60% in June and -7.68% through the second quarter (and -5.44% YTD).
The Dow Jones-UBS Commodity Index was up 0.32% in June, down 9.60% YTD (+18.91% in 2009), and the Dow Jones-UBS Precious Metals Sub-index was up 2.25% and up 12.87% YTD, compared to +29.20% in 2009.
The fund invests primarily in a diversified portfolio of junior and intermediate companies involved in the exploration, development, production and transportati...................... To view our full article Click here
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