Hedge Funds

MotherRock to close down energy fund on losses


MotherRock, the energy-focused hedge fund firm formed in late 2004 by J. Robert "Bo" Collins, former president of the New York Mercantile Exchange, has told investors it will close its MotherRock Energy Master Fund following steep losses.

The MotherRock fund invested in natural gas futures and managed to stay above water until May. But the strategy, whose peak assets exceeded $400 million earlier this year, took big losses in June and July as a result of volatility in natural gas prices.

In a letter sent to investors this week, Collins - who once was head derivatives trader in natural gas at