Levett’s Clive Fund Said to Erase Year’s Loss With 11.4% September Return
Clive Capital LLP’s $4 billion commodity hedge fund returned 11.4 percent in September, eliminating its loss for the year, according to two people with direct knowledge of the figures.
Commodity hedge funds returned about 0.2 percent on average last month, taking gains in the first nine months to 1.1 percent, according to data from HedgeFund.net. The people declined to be identified because the information hasn’t been publicly announced. Chris Levett’s Clive Fund had lost 11 percent in the first eight months, investors said in September.
The fund made money in a month when the Standard & Poor’s GSCI gauge of 24 commodities slumped more than 12 percent, the most since November 2008. Futures fell on concern that growth is slowing, eroding demand for raw materials. Clive Capital LLP, based in London, trades energy, metals and agricultural products, according to its website.
Levett, 41, started the fund in December 2007 after leaving New York-based Moore Capital Management LLC, where he had spent four years.
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