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Canada Goose sale March 16 (Reuters) At least two major commodity funds have missed out on this year oil rally, one of the energy market biggest since the financial crisis, market sources said. Canada Goose sale
Canada Goose Parka BlueGold and Clive Capital, both canada goose uk shop based in London and known for taking big bets on oil, have relatively weak returns to cheap Canada Goose show for the first two months of the year when crude Canada Goose Parka prices put in one of their strongest two month performances since 2009. crude. economic data may have lost Canada Goose online steam. Canada Goose Parka
canada goose black friday sale BlueGold, which has more than $1 billion in investor funds and is known for its focus on oil, is down about 2 percent on the year. The fund, led by former Vitol trader Pierre Andurand, logged a 1.5 percent loss in January and a half percent drop in February, according to people who have seen its performance cheap canada goose uk data. canada goose black friday sale
Clive, which canada goose factory sale has about $4 billion under management, is up about 3 percent for the year, after a gain of around 4 percent in February that offset January 1 percent drop, industry sources said. Clive, led by ex Moore Capital trader canadian goose jacket Chris Levett, is also a significant player in metals. But canada goose clearance sale it gained attention in May last year for losing about $400 million in a week on oil after panic selling in crude markets.
This year star among oil funds appears to be Andy Hall Astenbeck canada goose clearance Management, up more than 13 percent so far, canada goose uk black friday according to an investor in the fund. Astenbeck, based in Connecticut, manages about $5 billion. The better returns mark a rebound for the fund after its first ever annual loss in 2011. The broader hedge fund universe, which manages a total of $2 trillion, is up about 6 percent.
buy canada goose jacket cheap Sources that track BlueGold and Clive said managers at the two funds appeared to be deliberately staying nimble with their oil positions, possibly due to skepticism about the rally staying power. crude prices are up 6 percent on the year. Gains in London Brent crude are uk canada goose more buy canada goose jacket than double that, rising 15 percent. buy canada goose jacket cheap
Canada Goose online haven exactly told their investors or anyone for that matter that they don believe the way this market has been going, said a source canada goose coats who receives performance and other data issued by BlueGold and Clive. Canada Goose online
canada goose store their lack of bullish exposure canada goose coats on sale indicates they are ready to pounce the other way the moment prices turn, if they Canada Goose Outlet not already shorting the market that is, added the source. canada goose store
Canada Goose Jackets BlueGold and Clive could not canada goose uk outlet be reached for comment. crude by the equivalent of more than 17 million barrels in the week ending March 6, according to the Commodity Futures Trading Commission. Canada Goose Jackets
canada goose coats It was by far the largest addition to short interest in nine months, since the first week of June 2011, when hedge canada goose black friday sale funds and other investors raised their short positions by the equivalent Canada Goose Coats On Sale of almost 22 million barrels, canada goose in the aftermath of last May sudden market crash. oil market remains strictly a minority interest, however. The overwhelming majority of hedge funds remain bullish on the market given its more limited gains since the start of the year compared with Brent. Hedge fund long positions amount to nearly 326 million barrels of oil, compared with just 45 million worth of shorts. canada goose coats
know a lot of people who want to be bearish. But the oil price keeps going up, and up, and up, so it kind of hard for them to take major exposures, said an analyst who speaks regularly with commodity hedge fund managers.
Oil prices have largely run up on investor fear about sanctions on Iranian oil due the Tehran ongoing nuclear conflict with the West. economy and jobs market have also underpinned gains. crude prices, the market has advanced little. crude trades faces Canada Goose Online strong resistance at $110.
canadian goose jacket at very high levels already, and it require another major market shock to propel us further, said Stephen Schork, editor of the Schork Report, an industry uk canada goose outlet newsletter. canadian goose jacket
canada goose clearance sale the same token, if there any peaceful resolution to the Iranian conflict, we could see a very quick and significant downdraft in prices, said Schork, who estimates a risk premium of at least $15 a barrel over Tehran. canada goose clearance sale
canada goose deals In Thursday buy canada goose jacket cheap trading, Brent prices initially fell $3 a barrel before paring losses towards the close on news that Britain had agreed to cooperate with the United States in releasing strategic oil reserves later this year. canada goose deals
canada goose Fears about demand destruction in fuel could be another reason for fund managers hesistancy to jump onto the oil rally bandwagon. canada goose
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