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From Precy Dumlao, Opalesque Asia:

Gold continued to glitter while the energy sector also posted strong gains in the second half of the year bringing two Meridian Fund Manager's BVI-registered hedge funds, the Meridian Global Gold and Resources Fund and the Meridian Global Energy and Resources Fund, positive performances in October.

San Antonio, Texas-based investment management firm U.S. Global Investors, Inc., which has more than $2bn in AuM in offshore and U.S. based mutual funds, is the fund's investment advisor. Meridian Fund Managers Ltd., based in Bermuda, provides investment management services to the two funds.

Meridian Global Gold and Resources Fund Strong gains in gold prices pushed the Meridian Global Gold and Resources Fund Ltd (Class A shares) to a net gain of 7.29% in October, and +23.37% YTD. The fund generated returns of 565.19% since its Sept.-2004 inception. Its AuM as of end Oct.-2010 is $26.84m.

The fund outperformed the HFRI EH: Energy & Basic Materials Hedge Fund benchmark return of 4.02% in the same month (+6.8% YTD). The fund also outperformed the average return for the large cap gold indexes, HUI, GDM and XAU2 by 450 basis points in the month. It also generated strong returns with less volatility than th......................

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