Photo: Man Group LC
Add Man Group to the list of hedge funds, including Astenbeck, Clive Capital and BlueGold, that had a commodity-heavy portfolio crushed when oil nosedived last week.The hedge fund’s AHL strategy lost 5.3% last week, according to Marketwatch.
AHL recorded a strong April, gaining about 4%. Now those gains have been wiped.
AHL’s portfolio manager, Michael De Groot, said that “long bond and interest rate positions helped offset some of these losses.”
Still, the biggest loser after last week’s oil crash appears to be BlueGold, which lost about $500 million.
Clive Capital lost $400 million.
Business Insider Emails & Alerts
Site highlights each day to your inbox.