By Chanyaporn Chanjaroen Bloomberg - Oct 8, 2010
Clive Capital LLP’s $4 billion commodity hedge fund returned 6.6 percent in September, the best monthly return since May 2009, according to a report to investors obtained by Bloomberg.
Clive Fund Ltd. increased 1.7 percent in the first nine months, the London-based company said in the report. The figures refer to Class B shares introduced in May 2008.
“The agriculture sector was the best performer with strong profits in corn, cotton, soybeans and the oilseeds and vegetable oil complex,” according to a commentary in the report of the fund, which is managed by Chris Levett. “The fund was profitable in precious metals on the back of our length in gold, platinum and palladium.”
Cotton futures jumped 18 percent in September and reached the highest price in 15 years on concern demand from textile mills would outstrip supply as floods destroyed crops in Pakistan, and low temperatures and rain hurt production in China, the biggest grower. Corn and soybeans advanced 13 percent and 9.6 percent, while gold climbed 4.9 percent, touching a record.
Clive beat average hedge fund returns globally of 3.4 percent last month, based on data from Chicago-based Hedge Fund Research Inc., which tracks more than 2,200 such capital pools.
Hedge funds are largely unregulated investment vehicles whose managers can trade any asset, aim to make money regardless of whether markets rise or fall and participate substantially in profits from money invested.
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