“Given the magnitude of the volatility we’ve just observed in metals, I’d certainly expect declines for many in that space this month,” HFRI President Kenneth Heinz said. A spokesman for Red Kite in New York declined comment.Īccording to Chicago-based Hedge Fund Research Inc, a database on the $2 trillion hedge fund industry, the average metals hedge fund was down 0.54 percent for the year through August. Red Kite Metals - whose gains follow a number of tumbles in recent years when its bets soured - is the flagship of five funds run by London-based Red Kite Capital Management Ltd. “I know Red Kite has dug its heels into its shorts and that’s paying off handsomely for them,” said a source at a fund of funds in New York that receives performance numbers on Red Kite, among other funds. Now, after months of weak Chinese imports and as world economies teeter on the edge of another recession, Farmer and partner Lilley - evangelical Christians with more than half a century’s trading experience between them - are reaping the rewards of that contrarian position. While many other managers had bet on commodity markets extending last year’s post-crisis rally as emerging economies power ahead and global supply lags, Red Kite took the opposite view on copper, betting that a spike to $10,000 a tonne early this year had severely damaged demand in China. That would comfortably rank it among the best-performing commodity funds this year. The $1 billion Red Kite Metals fund has returned close to 20 percent for each of the past two months as copper prices fall to their lowest in a year, industry sources familiar with the fund’s positions told Reuters. We may contact you for future events and/or newsletter publications Record keeping Promotional seminars To customize our website for better service to you We may contact you for general account information and/or service.NEW YORK (Reuters) - It was a long wait, but the world’s most renowned metals traders Michael Farmer and David Lilley are finally profiting from a big, bearish bet on copper, trouncing rival hedge funds with a nearly 50 percent gain this year. What We Do with The Information We Gather Except in those specific, limited situations, without your consent, we will not make any disclosures of non‐public personal information to other companies who may want to sell their products or services to you. We do not disclose any kind of non‐public personal information about our clients or former clients to anyone, except when we believe it necessary for the conduct of our business, or where disclosure is required by law. Contact information including home address, email address, business address, telephone numbers such as home, office, cell. We obtain most non‐public personal information directly from you or your agents whether in person, by telephone or electronically. Services can include advising you about your account, services and other opportunities, maintaining your account with us, processing distribution and contribution transactions and administering our business. We limit the collection and use of non‐public personal information to the minimum we believe is necessary to deliver superior service to you. RedKite reserves the right to change this policy at any time. It gives you important information about how we handle your personal information. Information is only shared with your consent except for the specific purposes below, in accordance with all applicable laws. We do not share your non‐public personal information with unaffiliated third parties. RedKite has a firm policy of protecting the confidentiality and security of information that we collect from our users. Should we ask you to provide certain information by which you can be identified, you can be assured that such information will only be used in accordance with this privacy statement. RedKite is devoted to ensuring that your privacy is protected. This privacy policy sets out how RedKite Capital Group (“RedKite”) uses and protects any information that you provide RedKite.
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