BlueGold drops 10% as commodity funds suffer a reversal


Commodity-focused funds slipped up in January, with several of the leading players in the space suffering rare losses after a long period of generally solid performance.

Oil trading specialist BlueGold Global took a hit of almost 11%, although the stellar-performing $1.5 billion fund is still showing an annualised return after its first two years of trading of over 100%.

Galena Energy, another oil-focused player, was down by almost 4% - while Cumulus Energy, which had enjoyed a very strong year in 2009, was off by almost 10% in January.

Armajaro Commodities, a more generalist commodity fund, was down by 3.5% -