Hedge Funds

Refco starts raw materials fund


Refco Alternative Investments on July 1 launched a raw-materials-focused fund of funds, comprised of eight subadvisors trading long and short opportunities in commodities markets. Underlying managers in the fund of funds portfolio will tap the full range of raw materials, including agriculturals, soft commodities, metals, and energy.

The managers hope to capitalize on both the upside and downside movements in these markets, looking to produce alpha both on upside and downside trending in these markets.

Refco officials say the fund is focused on an absolute return strategy that is uncorrelated to other hedge funds, including many of the